GameStop’s ‘Roaring Kitty’ Keith Gill Makes Massive Trades as Shares Dive – What Happens Next Will Shock You!

Boston, MA – In a recent turn of events, GameStop Corp. found itself in the midst of tumultuous trading as Keith Gill, famously known online as ‘Roaring Kitty,’ was reported to have traded significant volumes late Wednesday. The trading frenzy caused a sharp decline in the company’s shares during the final stretch of trading hours.

The trading activity centered around GameStop $20 calls expiring on June 21, with an impressive 93,266 trades recorded. Of particular note was the surge in trading volume after 3:30 p.m., with trades in the last period of the day nearly doubling in size compared to the average trade volume earlier on. Gill, in a social media post, claimed to have purchased 120,000 of these contracts, indicating that he had yet to close his position.

Following news of Gill’s substantial position, GameStop’s shares saw a significant increase, nearly doubling to over $45 before experiencing a slight retreat. Seizing the opportunity presented by the rally, the company proceeded to sell $2.14 billion worth of shares. As the expiration date for the contracts drew near, speculation arose regarding whether Gill would exercise the contracts to acquire shares or opt to close out his position.

Although the extent of Gill’s involvement in Wednesday’s trading frenzy remains unclear, there is a palpable concern that the potential exit of the stock’s key proponent from his position could have a negative impact on the shares. This concern was reflected in the market as shares dipped by as much as 19% intraday, ultimately closing 17% lower at $25.46.

Throughout the day, the trading value of the $20 calls fluctuated substantially, starting as high as $13.90 each and ending at $6.40 by the trading day’s close. Despite the drop, the closing value remained higher than Gill’s purported average purchase price of $5.6754, prompting continued speculation about his next move amid the dynamic market environment.