Meme stock champion Keith Gill, known as "Roaring Kitty" online, seemed to increase his ownership in GameStop 's common stock and appears to be holding more than 9 million shares.
Gill posted a new screenshot of his E-Trade portfolio on Reddit's Superstonk forum after the bell Thursday, showing that he is now holding 9.001 million GameStop shares and over $6 million in cash.
On June 2, the first day he started disclosing his position in 2024's meme stock frenzy, his portfolio had 5 million shares as well as 120,000 call options against GameStop.
Call options give the holder the right, but not the obligation, to buy shares at a specified price by a certain expiration date.
He could have dumped all of 120,000 call contracts and used the proceeds to buy the additional shares, or he could have sold a portion of the massive options position and exercised the rest early.
Persons:
Keith Gill, Gill
Organizations:
GameStop