Roaring Kitty, the amateur trader and Reddit user, has made a significant profit from his GameStop (GME) stock position, defying expectations and skepticism. His gamble on the video game retailer’s stock has resulted in a profit of over $375 million.Roaring Kitty, whose real name is Keith Gill, had invested in GameStop shares and call options, betting on the stock’s potential to rise.
His position includes 5 million shares of GameStop common stock and 120,000 call options. If the stock returns to its May high of $64.83 per share, Gill’s position would be worth over $1 billion. Gill’s success has garnered significant attention, with many traders and investors following his moves closely. His story serves as an inspiration to amateur traders and a reminder that even the most unlikely investments can yield significant returns with the right strategy and risk management.
During his recent livestream, Gill showed his portfolio, which included 5,000 shares of GME at a price paid of $21.274 and 120,000 June 21 $20 calls. His total gain at the time of showing it was $146 million, although the daily loss was $163 million. Roaring Kitty’s profit from GameStop is a notable achievement, especially considering the stock’s recent volatility. His success highlights the importance of staying informed, being adaptable, and having a well-thought-out trading plan.