'Roaring Kitty' Portfolio Release... GameStop Predicts Another Surge

The Roaring Kitty is back. On the 2nd (local time), the investor 'Roaring Kitty,' who led the 2021 GameStop saga, stirred the market by revealing a portfolio that included a substantial amount of GameStop shares. Following a nearly 20% surge in GameStop's stock price on Robinhood, a 24-hour trading platform, meme stock rally forecasts are pouring in for the regular trading session on Monday, the 3rd.

[Image source=Getty Images Yonhap News]

According to economic media CNBC and others, Keith Gill, who operates under the 'Roaring Kitty' account on YouTube and other platforms, posted a screenshot of what is presumed to be his portfolio account on a Reddit board on the night of the 2nd. This included 5 million GameStop shares worth approximately $115.7 million based on last Friday's closing price, and 120,000 call options with a strike price of $20 expiring on the 21st (purchased at $5.68 each).

Immediately after the post was made public, GameStop's stock price surged more than 19% on Robinhood's 24-hour exchange. On the 31st of last month, GameStop closed the regular session on the New York Stock Exchange at $23.14 per share.

CNBC, while unable to independently verify the post, predicted that once pre-market trading begins at 4 a.m. Eastern Time on the 3rd, GameStop, which previously sparked the meme stock craze, could lead another sharp rally. MarketWatch also analyzed that "the market is already moving."

After Roaring Kitty posted an image on his X (formerly Twitter) account, signaling a return after about three years, GameStop's stock price more than doubled in May alone. GameStop, which had been experiencing financial difficulties, secured about $900 million through a rights offering following the stock price surge.

The previous GameStop saga began in 2021 when individual investors, mainly gathered on Reddit's stock discussion forums, collectively bought GameStop shares to counter Wall Street institutional investors' short selling. Roaring Kitty led the so-called 'rebellion of the retail investors' by promoting the high short interest in GameStop and the potential for a short squeeze by hedge funds through Reddit and YouTube channels, spearheading the GameStop buying campaign.

This content was produced with the assistance of AI translation services.