The GameStop (NYSE: GME) stock and Roaring Kitty saga is far from over, as Keith Gill continues to post updates on his GME stock position, which includes GME shares and call options that are set to expire on June 21.
In his most recent update on June 10, Roaring Kitty revealed that his GME stock is now worth $235.4 million, down by over $100 million from his previous update on June 7.
Despite the recent decrease in his GME stock value, Roaring Kitty’s bet is still in a profitable position. He currently holds a $31 million profit, a figure that is subject to change based on the fluctuation of GME shares, particularly until the expiration of his call options on June 21.
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Roaring Kitty was a billionaire at one point
After causing an impressive surge in GME shares with his cryptic tweets, Roaring Kitty at one point drove their value over $65 on June 6, which, if held after the markets closed, would have made him a billionaire (in unrealized gains).
GameStop shares were estimated to be worth $325 million, and his calls with IV explosion might have been worth $699 million.
An intricate connection between Roaring Kitty’s posts and GME stock price
Taking the meaning of meme stock to another level, GME shares surged over 100% every time Roaring Kitty posted a meme on Sunday, before markets opened, as noted on X by the stock tracker Wall Street Bets on June 10.
Investors are keen to see how this saga develops and whether Roaring Kitty ultimately outsmarts institutional GME stock short-sellers, as GME stock recorded modest gains of 0.44% in pre-market trading on June 11.
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