GameStop merchants believe Keith Gill, aka Roaring Kitty, may be eyeing a board seat after raising your bet more than 2% of the company. Known for his role in the 2021 short film GameStop, Gill recently revealed that he has earned $58 million since the start of this month. His latest trade, which brings his holdings to 9 million shares, sends a clear message to GameStop CEO Ryan Cohen, who previously diluted the stock, undermining Gill's gains. This calculated move suggests that Gill intends to influence GameStop's direction, potentially mirroring Cohen's rise to power at the company. A meme posted by Gill is being interpreted by his loyal base as mocking Cohen for this very reason:
— Roaring Kitty (@TheRoaringKitty) June 12, 2024
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Roaring Kitty's gang of small GameStop stockholders spotted a hidden message in their latest update. Gill's earlier plans were thwarted when Cohen issued 75 million new shares, causing a significant drop in the stock's value. On his 38th birthday, Gill appeared on his live stream with his arm in a sling and a bandage on his head, humorously acknowledging the setback. Despite this, his new position of 9,001,000 shares matches the number Cohen owned when he first increased his stake, hinting at Gill's strategic intentions. The fall in stock value appears to have thwarted Gill's aspirations to become a billionaire, for now.
— Roaring Kitty (@TheRoaringKitty) June 10, 2024
Background: Keith Gill, known online as Roaring Kitty, rose to fame during the COVID-19 pandemic for his role in the GameStop short game, where retail investors drove GameStop's stock price up dramatically, defying the main hedge funds. Gill's humorous, meme-filled approach resonated with small investors, who rallied behind his vision to turn around the struggling brick-and-mortar games retailer. Despite facing setbacks, Gill's latest move underscores his continued commitment and strategic vision for GameStop's future.
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