How Roaring Kitty’s wealth went from $53,000 to nearly $300 million — and could one day top $1 billion
From NBCUniversal: 2024-06-04 12:28:40
Keith Gill, known as “Roaring Kitty”, turned a $53,000 bet on GameStop into a $289 million net worth. His influence on meme stock movement is evident, as he shared his 5 million shares and 120,000 call options, resulting in a $79 million gain in a day.
Despite facing potential consequences for market manipulation, Gill’s portfolio shows 120,000 call options with a strike price of $20, which could lead to him owning an additional 12 million shares and becoming the fourth largest GameStop shareholder.
Exercising the call options could earn Gill up to $1.1 billion if GameStop’s stock reaches its previous peak. However, rolling the options to extend expiration dates could be costly. GameStop’s shares closed down 2% on Tuesday, following Gill’s potential lucrative move.