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

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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 (NYSE: 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

 

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