Roaring Kitty buys another 4M GME stocks, birthing conspiracy theory

Keith Gill a former financial analyst, is credited with driving the GameStop boom in late 2020. He purchased an additional 4 million GameStop shares, bringing his total holdings to almost 9 million shares valued at $262 million. He goes by the handle Roaring Kitty. Renowned stock trader Keith Gill, who gained notoriety for his role in the GameStop (GME) short squeeze, has acquired further GME shares.

Gill also known online as Roaring Kitty as well as DeepFuckingValue. and it posted that he had purchased an additional 4 million shares of GME. With GME closing that day, the trader’s total shares held were over 9 million, or almost $262 million.

Community members began to speculate that Gill, a stock trader, might getting ready to join the gaming company’s board of directors once his shares crossed the $9 million threshold.A stock dealer believes that Gill is now the fourth-largest stakeholder of GME based on recently acquired shares, citing a disclosure from GameStop. 

The trader believes that the momentum of the stock might push GME’s price up to $200. A different trader believes that Roaring Kitty will eventually join the board and that this will result in a significant price boost. Mt. Zion Market Ventures founder Jacob Slade stated that Gill presently has the same quantity of shares that Ryan Cohen, the CEO of GameStop, revealed when he joined the business. Moreover, a meme from the show The Office posted on Gill’s official X account, which fanned the theory even more.

Roaring Kitty’s Influence on Gamestop Market Moves

According to Slade, GameStop included a reference to Roaring Kitty on their website as an Easter egg. The executive also conjectured that June 17 chosen as the date for GameStop’s annual meeting due to the fact that it is National Take Your Cat to Work Day. The executive thinks this might reference Gill’s onboarding by GameStop.

Prices for GME increased on June 2 after Gill disclosed a $180 million stake in the company. Gill disclosed a $115.7 million holding in GME shares and $65.7 million in call options on his Reddit page.   The stock price has increased as a result of the recent revelation that rocked the market. GME for Robinhood increased by 19% in just 20 minutes following Gill’s statement. due to the price increament, locals calculated that Gill’s shares might potentially be valued at $1 billion, assuming that the June 7 opening price is equal to the after-hours trading rate of $67.50. The pricing, however, fell short of that threshold. GME is trading at $29 per share right now.