Roaring Kitty buys another 4M GME shares, birthing conspiracy theory
Prominent stock trader Keith Gill has bought more shares of GME after participating in the GameStop (GME) short squeeze.
Gill, known online as “Roaring Kitty” and “DeepFuckingValue,” posted on June 13 that he bought another 4 million GME shares. That brings the trader's total shares to more than 9 million, which was around $262 million at GME's close for the day.
The trader closed the GME call option that expires next week.
Society thinks Roaring Kitty might join the GME board
As Gill's shares breached the 9 million mark, members of the community began to speculate that the stockbroker might be preparing to join the gaming company's board of directors.
Citing a GameStop filing, the stockbroker believes the newly accumulated shares make Gill GME's fourth-largest shareholder. The trader thinks the stock's momentum could bring GME's price to $200. Meanwhile, another trader, Roaring Kitty, joined the board and predicted a rise in prices.
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According to Jacob Slade, founder of Zion Market Ventures, Gill currently holds the same number of shares that GameStop CEO Ryan Cohen held when he joined the company. Additionally, on Gill's official Twitter account, the office posted a memo from the sitcom, further fueling the plot.
Slade mentions that GameStop has added an Easter egg to its website, citing Roaring Kitty. The executive speculated that GameStop's annual meeting was moved to June 17 because it was National Take Your Cat to Work Day. The executive believes this could be a reference to GameStop onboarding Gill.
Rorong Kitty GME Resurgence
On June 2, GME prices rose when Gill disclosed a $180 million position in the stock. On his Reddit post, Gill revealed a $115.7 million position in GME shares and $65.7 million in call options. The new revelation rocked the market, sending the share price soaring. Robinhood saw GME jump 19% 20 minutes after Gill posted the update.
As the price rises, community members speculate that Gill shares could eventually be worth $1 billion if they open at $67.50 after-hours on June 7. However, the price did not reach that price point. GME currently sits at $29 a share.
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