Memecoins

Roaring Kitty Resurfaces as GameStop Stock Soars in Pre-Market Trading – Cryptochronicle.xyz Reports

After a sudden two-week absence, the popular Roaring Kitty Twitter account has made a comeback. This return coincided with a significant surge in GameStop‘s share price, nearly doubling in pre-market trading to reach $38.88 at the time of this writing.

Keith Gill, the financial analyst behind the Twitter account, gained widespread attention during the 2021 GameStop short squeeze that saw the GME share price skyrocket to a high of $483. This momentous increase resulted in profits for many retail investors and losses for numerous hedge funds.

On Monday morning, the Roaring Kitty account posted an image of an Uno reverse card, seemingly retracting the farewell message posted earlier. The sudden reactivation of the account raised eyebrows, as Gill’s other social media accounts on Reddit and YouTube remained inactive.

This time, Gill’s Reddit account, DeepFuckingValue, shared on the SuperStonk subreddit that he was the GameStop whale purchasing $20 call options for GME expiring on June 21. These options essentially bet that GME will surpass $20 on that date.

Even before revealing himself as the GME whale, Gill’s trades drew significant attention, with his position growing to $116 million. Just weeks ago, another GameStop trader made headlines by profiting $44 million from selling GME options just before Roaring Kitty’s Twitter hiatus.

Gill’s return has rejuvenated GME’s price, nearly doubling in value since Friday. This surge could potentially raise the value of Gill’s GME holdings to as much as $214 million by the opening of U.S. markets today.

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Company

Get Latest Updates!

    Get all the latest updates on the crypto scene, including access to exclusive airdrops.

    cryptochronicle.xyz @2024. All Rights Reserved.