The famous GameStop short squeeze instigator Roaring Kitty (real name Keith Gill) has announced that he will be live streaming on his YouTube channel later (Taiwan time June 8th 0:00), attracting over 12,000 viewers online before the deadline.
According to Yahoo Finance data, possibly influenced by this news, GameStop stock (stock code: GME) surged over 33% in pre-market trading on Friday, temporarily trading at about $62 per share before the deadline. Additionally, based on CoinGecko data, the related meme coin GME also saw a skyrocketing increase, with a nearly 155% surge in the past 24 hours, trading at around $0.03 per coin at the time of publication.
As reported by Zombit earlier, after years of silence, Roaring Kitty made a comeback to social media in May, first posting a picture of a gamer leaning forward on a chair on X platform, followed by many famous movie scenes in the following days, all without any accompanying text but causing significant fluctuations in GameStop’s stock price. This Monday, Roaring Kitty posted on the popular Reddit forum, hinting at his possible ownership of GameStop stock and options, triggering a second recent surge in GME stock prices and causing significant losses for traders who were shorting GameStop.
GME shorts may have lost $2.1 billion
Roaring Kitty made another Reddit post yesterday (6th), with the displayed image suggesting that the value of his GME stock holdings has risen to $232 million, while the value of GameStop call options with a strike price of $20 and an expiration date of June 21 has increased to $324 million.
Source: Reddit
Analytical firm “The Kobeissi Letter” points out that GME stock rose to $67.5 per share in after-hours trading on Thursday. If GME opens on Friday equal to or higher than this price, Roaring Kitty’s stock holdings would reach approximately $325 million, with options value reaching around $700 million, totaling about $1 billion, resulting in an increase of $850 million in his total holdings value.
Additionally, according to The Kobeissi Letter’s estimate, traders shorting GME have lost $2.1 billion today, including stock price changes during trading hours and a more than 30% surge in after-hours trading.
