Key Points
Shortly after the New York Stock Exchange opened for trading the following morning, the stock for video game retailer GameStop was up by more than 50 percent..
Widely known by the alias Roaring Kitty, Gill was one of the architects of the meme-stock craze of 2021, when amateur investors on the social platform Reddit worked together to drive up the price of GameStop and other out-of-favor stocks..
On June 2, Gill posted a screenshot to Reddit that appeared to indicate he holds $115.7 million in GameStop stock, as well as call optionscontracts that confer the right to buy stock at a certain price on a certain dateworth $65.7 million..
Appearing on camera, dressed inexplicably in a fake head bandage and Band-Aids, with his arm in a sling, Gill confirmed he was responsible for the content posted to his social accounts and that the positions detailed in his Reddit posts are genuine, before entering into a sermon on his GameStop investment thesis..
Specifically, Gill could find himself in trouble when his call options expire on June 21, leaving him with a decision: Should he sell his options at a profit, if the stock price remains high, or take delivery of the GameStop shares they represent?.
