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Keith Gill has posted a YOLO update on r/Superstonk disclosing a $210 million portfolio made up entirely of GameStop shares and call options.
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The GameStop saga continues. This evening investor Keith "Roaring Kitty" Gill provided a "GME YOLO Update" for June 2, 2024 in which he discloses that he owns 5 million shares of GameStop's common stock and 120,000 June 21, 2024 $20/share strike price call options. The portfolio screenshot indicates a total value of $210 million. Power to the players, indeed.
GME YOLO update – June 2 2024
byu/Deepf*ckingValue inSuperstonk
Keith Gill's return to Twitter a few weeks ago has sparked some renewed interest in GameStop's stock, with a barrage of dank memes and videos capturing the hearts and minds of degenerate traders and long-term investors. Today's YOLO update is the first Reddit post from Gill (u/Deepf*ckingValue) since his last post to r/wallstreetbets in April 2021.
— Roaring Kitty (@TheRoaringKitty) June 3, 2024
The Roaring Kitty account also tweeted out a picture of an Uno reverse card this evening. Something interesting to note about today's update is that it appears that Gill has added to his GameStop position over time and he currently still only owns one stock, despite what countless Internet shills have tried to lead the public to believe. Adjusted for the 4-to-1 stock split dividend, Gill would have 800,000 shares, but the 5,000,000 share position seems to indicate that he has probably been actively managing his portfolio during his three year absence from posting to the Internet.
When we last heard from Keith Gill in 2021, his portfolio was valued at $34 million, and today it sits over $210 million. Eyes will be on the $65 million position in those June 21, 2024 $20/share strike call options that expire this month, so keep it locked on Shacknews for everything GameStop-related over the next month.
This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.
Full Disclosure:
At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:
Long GameStop via GME shares
Long GameStop via GME call options
CEO/EIC/EIEIO
Asif Khan is the CEO, EIC, and majority shareholder ofShacknews. He began his career in video game journalism as a freelancer in 2001 for Tendobox.com. Asif is a CPA and was formerly an investment adviser representative. After much success in his own personal investments, heretired from his day job in financial services and is currently focused on new private investments. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif first frequented the Shack when it was sCary's Shugashack to find all things Quake. When he is not immersed in investments or gaming he is a purveyor of fine electronic music. Asif also has an irrational love of Cleveland sports.
From The Chatty
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Shacknews
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June 2, 2024 5:35 PM
Asif Khan posted a new article,
the man with the briefcase
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June 2, 2024 5:57 PM
$210 million portfolio?
IN THIS ECONOMY?
HOW????
Tincan
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June 2, 2024 7:26 PM
Wow this is gonna be fun to watch.
the man with the briefcase
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June 2, 2024 7:34 PM
I have to know how he did it. I have a theory, but I need to know…
Tincan
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June 2, 2024 7:54 PM
It's way above my head but I'm sure it'd be interesting. BTW does one buy 5 million shares the same as buying 1000? I'm assuming you'd accumulate over time so not all at once but I've thought of this before if you could make a huge buy on a typical brokerage or if you'd have someone placing the orders for you to make it work.
the man with the briefcase
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June 2, 2024 8:02 PM
He has an etrade account, so I guess it wouldn't be that different to place the order, but there is some speculation that he took part in the secondary offering a few weeks ago.
https://www.shacknews.com/article/139999/gamestop-gme-secondary-45-million-shares
Tincan
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June 2, 2024 8:13 PM
Thanks, and now I'm fascinated how an individual could participate in an offering. I guess he's not an average Joe but the mechanics of how it all takes place is intriguing.
edgewise
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June 3, 2024 11:04 AM
Probably cashed a ton in the last pump and dump a few weeks ago, and is trying it one more time.
the man with the briefcase
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June 3, 2024 11:05 AM
Why now? Why a few weeks ago?
gmoney
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June 3, 2024 11:54 AM
/r/superstonk was saying that he went all in on nVidia a year and a half ago or something like that.
the man with the briefcase
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June 3, 2024 11:59 AM
That's just people guessing tho.
Holy sh*t I'm in the wrong business
the man with the briefcase
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June 2, 2024 7:38 PM
Been covering this stock pretty closely for three years for a reason.
missing_spaceship
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June 2, 2024 7:57 PM
still sitting on my shares from the original days, nothing but upside at this point as far as i'm concerned
the man with the briefcase
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June 2, 2024 8:03 PM
Really an interesting position for the shorts to find themselves in.
f*ck EM
shirif
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June 3, 2024 10:57 AM
Wrong feekin business
sikander
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June 3, 2024 6:32 AM
72.54% up on Monday morning
Magitek
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June 3, 2024 6:51 AM
So he just made $152 million?
quazar
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June 3, 2024 10:41 AM
He didn't make sh*t until he sells, market value is ever changing razor blade
Chandler55
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June 3, 2024 8:26 AM
his tweets should be market manipulation tbh. if he had that much riding on it
we like the stock only gets you so far, it’s obvious what him tweeting from a dormant account would do
the man with the briefcase
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June 3, 2024 10:44 AM
Is it okay and legal for fund managers to come on CNBC and tout their long/short positions?
Keith "The Roaring Kitty" Gill has 1.4 million followers on Twitter. r/Superstonk has less than 1 million subs.
CNBC has 5.2 million followers on Twitter and is an internationally broadcast TV station.
Why is it bad/worse when an individual does it on the Internet?
I am just genuinely curious why people react this way to him and this GME situation but not CNBC's parade of countless people talking their book.
Chandler55
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June 3, 2024 10:51 AM
i dunno something doesnt sit right with me that he can tweet something and make 9 figs over night. if thats what cramer is doing on cnbc thats bad too but it feels more nefarious with DFV, especially this time around. if he truly believes in the short squeeze i guess its ok but i think its possible he just wants to pump and dump on reddit
the man with the briefcase
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June 3, 2024 10:57 AM
The guy went from $50,000 to over $210 million in four years. At no point (admittedly with a three year gap) did he indicate that he exited the GameStop position. Maybe we should let him cook before alleging a pump and dump scheme.
IMO we are dealing with an extremely talented trader, and he is disrupting a system that has been dominated by the elite and wealthy classes of American society. He has also inspired many people to learn about investing.
There may be no heroes in this story, but I assure you that there was far worse bad guys (Robinhood, Citadel, Citron, other short funds) than Keith Gill. f*ck EM.
Dr_Cube
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June 3, 2024 11:00 AM
Hard INF. May seem populist and what r/wallstreetbets would say but that is exactly how I see it.
eatstheramen
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June 3, 2024 11:22 AM
Agree no heroes here. Sill feels like this is an amazing feat, I wish I could pull off and probably will never attempt.
ant321
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June 3, 2024 11:38 AM
Totally agree. He's transparent on his positions.
CNBC shills sh*t everyday. Market analysts set price targets on all stocks.
Chandler55
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June 3, 2024 11:53 AM
i dont like what cnbc does either tbh. i just think a lot of ppl are getting fooled by this gme stuff. sure a lot of ppl are making money but a lot of people will be left as bagholders too. DFV is transparent but hes also selling a short squeeze dream that probably wont happen
edgewise
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June 3, 2024 1:48 PM
I think the fact that he has $210 million is plenty of evidence he dumped back in 2021.
falidorn
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June 3, 2024 2:03 PM
You guys don’t know what covered calls are? You understand he could be making money of lots of things and then buying GME from the profits.
falidorn
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June 3, 2024 10:49 AM
Our laws are not based on intent. He did not break any laws. No advice was given and he didn’t tell anyone to buy anything. If stating your financial stake is a crime…. Hoo boy.
shirif
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June 3, 2024 2:43 PM
Hum, intent is definitely codified in law
the man with the briefcase
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June 3, 2024 11:06 AM
Buying 12 million shares would make a hard-to-borrow stock go down?
dkrulz
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June 3, 2024 11:27 AM
lol, and how do we know for sure he's going to exercise the options?
the man with the briefcase
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June 3, 2024 11:34 AM
We don't. I never said he would. I was replying to someone who suggested that he would.
dkrulz
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June 3, 2024 12:00 PM
I know, in addition to the part you pointed out not making sense I also wondered how he knew for sure he was going to exercise.
ant321
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June 3, 2024 1:20 PM
he's likely to exercise some amount cause it's a giant amount of the float that he owns. At this point it's like watching hedge funds fight to bankrupt each other. His counterparty has to be able to come up with those shares to hedge his position which will force buying and jump the price of the shares even more. I doubt he has the capital to outright exercise it all, but I'm sure there's f*cking whales involved that could fund him and liquidate some other hedge fund. Like this guy that's likely to get 100% f*cked AGAIN.
https://finance.yahoo.com/news/andrew-left-burned-2021-meme-174305309.html?guccounter=1
edgewise
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June 3, 2024 11:34 AM
I meant sell the contracts. my bad.
the man with the briefcase
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June 3, 2024 11:35 AM
That makes sense.
vigilante
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June 3, 2024 2:04 PM
thought this was america
Dr_Cube
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June 3, 2024 10:31 AM
Amazing. To the moon or to zero this guy is going down as a legend among traders.
And yes. f*ck the hedge funds that specialize in short selling. It was cathartic watch Melvin Capital fold and hilarious watching them cry foul when their own game turned against them.
redshak
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June 3, 2024 10:57 AM
Is stock market handling ever taught in any kind of higher education? Or is it mostly self taught? Like I got decent grades in school and got a 2 year technical diploma but nobody along the way at anytime said "hey here is how the stock market works" is it because it's kind of like asking how to get good at blackjack?
the man with the briefcase
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June 3, 2024 11:02 AM
I'd say the closest thing to portfolio management taught in undergrad would be a combo of economics, finance, and accounting majors.
But no real portfolio management courses were taught when I was in college, so yeah, I taught myself.
Many of my colleagues got internships when they were in undergrad and those lead to jobs on Wall Street.
redshak
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June 3, 2024 11:04 AM
That makes sense, thanks
judge
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June 3, 2024 11:40 AM
I took some courses in grad school on derivatives, etc. but I don't think there was ever anything similar when in undergrad.
packav
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June 3, 2024 12:21 PM
We learned the basics of in a High School class- and I was super interested in investing, but back then the brokerage fees were insane, like $50 per trade, which priced me out b/c my little minimum wage job
gameindustryplant
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June 3, 2024 3:08 PM
nothing's ever taught, my dad started showing me when I was 14 and I feel like it's insanely rare
electroly
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June 3, 2024 3:26 PM
in 3rd grade math we had a unit on the basics of stock markets. obviously not very deep at that age, but we got to pick stocks for our own mock portfolios and then track them manually (from stock quotes in the daily newspaper... this was a long time ago). we drew our own graphs on graph paper.
in the same class we also learned about ATMs (called a "Tyme machine" in our neck of the woods... this was a really long time ago) and checking accounts. they got someone from a local bank to print up fake Tyme cards for all the kids, and we learned how to reconcile the checking transaction register with bank statements. i'll never forget how cool it felt to have my own (fake) Tyme card. they were real cards, just with nothing programmed on the magnetic strip
MagicWishMonkey
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June 3, 2024 4:03 PM
My wife got her MBA at a top school with a specialization in finance and when she graduated she said to me “they never taught us how the stock market works”, lol
fadetofunk
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June 3, 2024 12:43 PM
Anyone get Berkshire @ 180 today?
edgewise
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June 3, 2024 1:39 PM
Bank error in your favor!
Collect $10
dkrulz
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June 3, 2024 1:02 PM
Apparently Etrade might be thinking about kicking kitty off the platform.
https://www.msn.com/en-us/money/companies/e-trade-considers-kicking-meme-stock-leader-keith-gill-off-platform/ar-BB1nyPDFChandler55
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June 3, 2024 2:21 PM
also sec is looking into it
"The Securities and Exchange Commission has also been reviewing trading in GameStop call options around the time of Gill’s social-media posts, according to people familiar with the agency’s efforts."
Chandler55
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June 3, 2024 2:59 PM
hes up to 290 million https://www.reddit.com/r/Superstonk/comments/1d7e4uh/gme_yolo_update_june_3_2024/
crust
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June 3, 2024 4:15 PM
$78.6 million in a day is ok i guess.
