July 24, 2024
Roaring Kitty's GME Investment Surge
Latest Cryptocurrency News

Roaring Kitty Increases GameStop Stake to 9 Million Shares

Roaring Kitty Boosts GME Investment to 9 Million Shares

Stock trader Keith Gill, widely known as “Roaring Kitty” and “DeepFuckingValue” for his involvement in the GameStop (GME) short squeeze earlier this year, has once again made headlines. On June 13, Gill announced that he had purchased an additional 4 million shares of GME, pushing his total holdings in the company to over 9 million shares. This substantial investment amounts to approximately $262 million, based on GME’s closing price that day.

Speculation of Roaring Kitty Joining the GME Board Gains Momentum

With Gill now holding a significant stake in GameStop, speculation within the community is rife about his future role in the company. Some believe that Gill might be positioning himself to join GameStop’s board of directors. This speculation intensified as Gill’s holdings breached the $9 million mark, a milestone that underscores his deepening involvement with the gaming retailer.

Potential Impact on GME’s Stock Price

According to sources citing a GameStop filing, Gill’s latest acquisition makes him one of the largest shareholders of GME, potentially ranking as the fourth-largest shareholder. Analysts and traders alike are closely watching the stock’s momentum, predicting that GME’s price could surge to $200 per share. There is anticipation that if Roaring Kitty indeed secures a board seat, it could further catalyze a substantial increase in GameStop’s stock price.

Comparisons Drawn with GameStop CEO’s Initial Shareholding

Jacob Slade, founder of Mt. Zion Market Ventures, drew parallels between Gill’s current holdings and those disclosed by GameStop CEO Ryan Cohen when he initially joined the company. Slade suggested that such similarities could hint at significant developments within GameStop, further fueled by indirect references to Roaring Kitty on the company’s website and social media.

Future developments

Keith Gill’s latest investment move, acquiring an additional 4 million GME shares, has not only solidified his position as a major shareholder but also sparked widespread speculation about his potential role in GameStop’s future. As the stock continues to capture market attention, the community eagerly awaits further developments that could impact GameStop’s trajectory in the near term.

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Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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