GameStop Surges as “Roaring Kitty” Trader Reveals $116 Million Stake – Meme Stock Madness continues!

New York, NY – GameStop shares experienced a significant surge in premarket trading on Monday following trader Keith Gill’s disclosure of his sizable $116 million stake in the struggling retailer. Known by the monikers “Roaring Kitty” and “DeepFuckingValue” on social media, Gill’s revelation caused the stock to climb by 84% before the market opened.

The surge comes on the heels of a post on Reddit’s r/SuperStonk forum, where an account snapshot showed that Gill holds a substantial five million shares of GameStop. In addition to this, Gill also shared an image of a reverse “Uno” card on X, receiving an impressive 56,000 likes at the time of the last check.

This latest spike in GameStop’s stock price mirrors a previous occurrence when Gill reappeared on social media after a three-year silence, resulting in a surge in the so-called meme stock. However, those gains were short-lived as the stock subsequently gave up most of its increase.

Gill gained widespread attention in January 2021 when his optimistic views on GameStop sparked a short squeeze, creating significant volatility in the market. During a hearing before the House Financial Services Committee, he made headlines by stating that he was “not a cat,” a reference to the popular Zoom filter mishap that went viral.

In the 2023 film “Dumb Money,” Gill was prominently featured as one of the main characters, portrayed by acclaimed actor Paul Dano. The film captured the essence of the GameStop saga and its impact on the financial world, shedding light on the power of social media and online communities in shaping market outcomes.