Business

GameStop Investor Keith Gill Doubles Stake To 200,000 Shares, Worth $31 Million

April 17, 2021

On Friday, Keith Gill exercised his 500 GameStop name choices to get 50,000 extra shares at a strike worth of $12, which is lower than a tenth of the present inventory worth.

What Happened: Keith Gill, the Reddit WallStreetBets dealer, additionally bought 50,000 extra GameStop Corp (NYSE: GME) shares, bringing his whole funding to 200,000 shares price greater than $30 million.

Gill — who goes by DeepF——Value on Reddit and Roaring Kitty on YouTube — is the person who helped encourage the GameStop short squeeze in January.
On Friday, he shared a screenshot of his portfolio marked “final update” on the WallStreetBets subreddit. The screenshot confirmed practically $34.5 million in his property with $30.9 million of GameStop shares and $3.5 million in money. The Wall Street Journal additionally reported Gill held greater than $30 million in property.
Gill uploaded a video on YouTube entitled “Cheers everyone!”
According to Gill’s newest replace on Reddit’s r/WallStreetBets discussion board, his common worth paid for GameStop shares is $55.17.
Keith Gill gained fame amid Reddit’s WallStreetBets craze. He has been posting about GameStop for a 12 months and likewise making movies on YouTube.
Gill discovered himself in the course of the GameStop story after posting about massive beneficial properties constituted of shopping for the inventory earlier than its 1,000% improve.
Gill was registered as an agent with MML Investors Services LLC, a broker-dealer arm for Mass Mutual. Last month, the corporate filed a termination request with FINRA to take away Gill’s dealer license.
In February, a class-action lawsuit was filed towards Gill after the GameStop quick squeeze.
He appeared at a Congressional hearing in February relating to Reddit’s affect available on the market. The CEOs of Robinhood, Citadel and Melvin Capital additionally spoke on the listening to.
Price motion: GameStop closed Friday at $154.69.