Since Thursday, Roaring Kitty has been down over $350 million

ESPN

In the last four days alone, meme stock influencer Keith Gill, aka Roaring Kitty, has lost over $350 million on his GameStop (GME) position.
As GME continued to shed value on Monday, Gill mocked his own fortunes, posting memes on Twitter belittling his financial status.
But the hits taken over the last few days by the world-famous stock trader are no joke.
Then, a dismal quarterly earnings report from GameStop sent the stock spiraling.
On Friday, Gill lost over $235 million on his GME position.
By Monday evening, the influencer reported he was still about $31 million in the black—meaning he’s lost about $351 million in profit since last week.
The saga is somewhat reminiscent of the famed 2021 short squeeze of GME stock by retail traders, which Gill architected.
In that case, the U.S. Securities and Exchange Commission investigated the matter, but ultimately determined that no market manipulation had occurred.

NEGATIVE

Memes stock influencer Keith Gill, also known as Roaring Kitty, has lost more than $350 million on his GameStop (GME) position in just the last four days.

Based on his manner, you couldn’t tell. Gill made fun of his own circumstances on Monday as GME kept losing value by sharing memes on Twitter that disparaged his financial situation. And on his first livestream in three years on Friday, he pretended to be hurt while flaunting his arm in a splint and fake bandages. All of this occurred as the price dropped in real time.

However, the hits that the well-known stock trader has taken over the past few days are not to be taken lightly. Based on screenshots of an ETrade account he shared on Reddit, Gill was riding high as of just last Thursday, with over $382 million in profit (on paper, at least) from options placed on GME.

Then, GameStop released a gloomy quarterly earnings report that caused the stock to plunge. With his GME position, Gill lost more than $235 million on Friday. Following a 40% decline in the hours leading up to the weekend, GME fell another 12% on Monday, escalating the carnage.

Mon. afternoon saw GME close at $24.83. In Thursday night’s after-hours trading, the stock had risen as high as $61.27, which helps put the loss in perspective.

Gill has lost almost all of his recent gains due to the price movement. By Monday night, the influencer revealed that he was still roughly $31 million in the red, which indicates that he has lost roughly $351 million in profit since the previous week.

Gill’s whole GME marijuana stock might also be legally vulnerable, though this is still unknown.

Regulators are reportedly looking into Gill for possible manipulation after he sent a number of cryptic—and not so cryptic—tweets in the last few weeks that have caused GME and other meme stocks, as well as the corresponding cryptocurrency tokens, to soar last week. According to reports, ETrade is even thinking about banning him from the site.

In certain ways, the story is similar to the well-known retail trader short squeeze of GME stock in 2021, which Gill oversaw. Consequently, the U.S. s. After looking into the issue, the Securities and Exchange Commission came to the conclusion that there had been no market manipulation.

by Andrew Hayward, editor.

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