Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
‘Roaring Kitty’ Eyes Billion-Dollar Exposure on GME Rally

‘Roaring Kitty’ Eyes Billion-Dollar Exposure on GME Rally

DailyCoinDailyCoin2024/06/07 16:56
By:DailyCoin
  • Keith Gill (Roaring Kitty) might become a billionaire.
  • The trader’s brokerage position on GME stock could make this happen.
  • Roaring Kitty will also appear on YouTube on Friday for the first time in three years.

Keith Gill’s (Roaring Kitty) $53,000 bet on his favorite video game retailer GameStop might make him a billionaire this Friday as the relentless meme-stock trading cheerleader plans a YouTube comeback.

On June 6, Gill took to Reddit and flashed a $583 million position in GameStop (GME) shares, showing a $382 million profit across options and equity positions. GME surged 47% to $46 on the same day before hitting $61 in after-trading hours.

Roaring Kitty’s March to $1B

In an X (Twitter) post on June 7, global capital markets analysts at The Kobeissi Letter claimed that Roaring Kitty “is set to become a billionaire” following GME’s wild rally after Thursday trading hours.

Sponsored

Per the analysts, if GME opens at or above current levels on Friday, Roaring Kitty’s shares and options will be worth approximately $325 million and $700 million, respectively. This could contribute to a combined brokerage position of about $1 billion and a gain of $850 million.

“With the spike in implied volatility, his options could be worth over $700 million tomorrow. If he decides to execute these options on the live stream, he will own ~6.3% of the public float. Truly insane,” the analysts wrote.

The livestream referred to by the analysts will mark Roaring Kitty’s first appearance on YouTube in three years. According to the information on the Roaring Kitty YouTube channel, which has over 700,000 subscribers, Gill has scheduled the livestream for June 7, with over 13,000 users waiting as of press time.

Read More

GME was trading at $62 in premarket as of writing.

Sponsored

Stay updated on Kraken’s plan to raise over $100 million:
Kraken Prepares to Raise Over $100M Ahead of IPO

Read about Robinhood’s latest acquisition:
Robinhood Eyes Bitstamp Acquisition in $200 Million Deal

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Why Is the Crypto Market Down Today?

Cointime2025/01/20 15:33

Bernstein says some may cringe, but Trump memecoin is a 'paradigm shift' in US crypto approach

Analysts at Bernstein said that Donald Trump’s official launch of a memecoin represents a “paradigm shift” in how the U.S. and the world will approach crypto.The incoming President’s team launched the TRUMP token late Friday on the Solana blockchain, and at one point, it had a fully diluted valuation of more than $73 billion.

The Block2025/01/20 12:12