Unsurprisingly, shares of GameStop (NYSE:GME) stock are witnessing volatile price action following Roaring Kitty’s highly anticipated livestream. During the stream, Roaring Kitty, whose real name is Keith Gill, shared his E*Trade brokerage account, revealing that he still held his GME stock and calls position that was revealed earlier this month.
As of the afternoon of Friday, June 7, Gill owned $160.4 million in shares and $160.8 million in $20 calls expiring on June 21. The meme stock advocate also had $29.4 million in cash.
Furthermore, Gill’s position is way in the green, as his account showed a massive gain of $146.66 million or 84%. According to Gill, his investment is solely attributed to himself. During the livestream, he stated that “I’m not working with anyone else, I’m not working with hedge funds.” That countered short seller Citron Research’s guess that Gill had a “mysterious crypto backer.”
GME Stock: What’s Next After Roaring Kitty’s Livestream?
Over the weekend, Gill tweeted out yet another cryptic image:
The picture is a screenshot from the The Dark Knight, which is part of the Batman movie series, with a cat mask added. Gill’s followers were quick to point out that the number five is visible on the top right corner of the mask. The meaning of the number, whether it is a coincidence or not, is still up for debate.
The return of Gill has also allowed GameStop to raise a boatload of money. Last Friday, the video game retailer announced that it would offer and sell up to 75 million shares. That came after GameStop completed its 45 million share offering worth $933.4 million, which was announced on May 17. Its cash, cash equivalents and marketable securities totaled $1.083 billion as of May 4.
The cash provides GameStop with an array of opportunities, such as an acquisition. Still, the company noted that it does not have any acquisition plans at the moment, meaning that the cash will sit in short-term interest-bearing assets.
So, what’s Gill’s next move? Your guess is as good as mine. However, it’s likely that Roaring Kitty will make some kind of announcement this week given his colossal GME stock position and his frequent activity in recent weeks.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
