GameStop Investor Keith Gill Doubles Stake To 200,000 Shares, Worth $31 Million


On Friday, Keith Gill exercised his 500 GameStop call options to get 50,000 more shares at a strike price of $12, which is less than a tenth of the current stock price.

What Happened: Keith Gill, the Reddit WallStreetBets trader, also bought 50,000 more GameStop Corp GME shares, bringing his total investment to 200,000 shares worth more than $30 million.

  • Gill — who goes by DeepF------Value on Reddit and Roaring Kitty on YouTube — is the man who helped inspire the GameStop short squeeze in January.
  • On Friday, he shared a screenshot of his portfolio marked "final update" on the WallStreetBets subreddit. The screenshot showed nearly $34.5 million in his assets with $30.9 million of GameStop shares and $3.5 million in cash. The Wall Street Journal also reported Gill held more than $30 million in assets.
  • Gill uploaded a video on YouTube entitled "Cheers everyone!" 
  • According to Gill's latest update on Reddit's r/WallStreetBets forum, his average price paid for GameStop shares is $55.17.
  • Keith Gill gained fame amid Reddit's WallStreetBets craze. He has been posting about GameStop for a year and also making videos on YouTube.
  • Gill found himself in the middle of the GameStop story after posting about large gains made from buying the stock before its 1,000% increase. 
  • Gill was registered as an agent with MML Investors Services LLC, a broker-dealer arm for Mass Mutual. Last month, the company filed a termination request with FINRA to remove Gill's broker license.
  • In February, a class-action lawsuit was filed against Gill after the GameStop short squeeze.
  • He appeared at a Congressional hearing in February regarding Reddit's influence on the market. The CEOs of Robinhood, Citadel and Melvin Capital also spoke at the hearing.
  • Price action: GameStop closed Friday at $154.69.

Image: Screenshot of Keith Gill's video

Market News and Data brought to you by Benzinga APIs
Posted In: NewsKeith GillmemestocksRedditRoaring KittyShort Squeezewallstreetbets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!