Roaring Kitty's GameStop options have risen by millions of dollars, but cashing in may be tricky
Who is "Roaring Kitty" and what role did he play in the 2021 meme stock frenzy?
"Roaring Kitty," also known as Keith Gill, is an influential stock trader who played a significant role in the 2021 meme stock frenzy. He is widely credited with sparking the massive surge in GameStop's stock price, which captivated the financial world and pitted retail investors against Wall Street hedge funds. Gill's online activity, particularly on Reddit and YouTube, attracted a large following and inspired many retail investors to buy GameStop shares, causing the stock price to skyrocket. His consistent support for GameStop and his own substantial investments in the company made him a central figure in the meme stock movement.
What correction was made regarding the pricing information in the original news article?
The correction made regarding the pricing information in the original news article was to clarify that the pricing was as of Friday's close of trading, not Monday, in paragraph 2.
What was the nature of Keith Gill's position in GameStop options as revealed by his recent Reddit post?
Keith Gill's recent Reddit post revealed a position in GameStop options worth $116 million. The post showed a position of 120,000 GameStop June 21 call options at a strike price of $20, worth $65.7 million at Friday's close. Call options convey the right to buy shares at a fixed price in the future.