Meme stock GameStop saw another speculative pop in overnight trading as speculation grew that Keith Gill could have a huge position in the video game retailer.
is rallying again on speculation Keith Gill, the man who inspired 2021's epic short squeeze, could currently have a huge position in the video game retailer.
The Reddit trading crowd's favorite trader holds 5 million shares of GameStop worth $115.7 million as of Friday's closing price, according to the account snapshot posted on Reddit's r/SuperStonk forum. The account also showed a position of 120,000 call options in GameStop with a strike price of $20 that expire on June 21st that were purchased for about $5.68 each. GameStop shares closed Friday at $23.14.
Around the same time Sunday night, Gill posted a cryptic picture of a reverse card in the game "Uno" on X, which quickly garnered near 30,000 likes. Gill's first return to social media three weeks ago sparked an eye-popping rally in GameStop with shares more than doubling in May alone. At the time,GameStop took advantage of the May rally by raising more thanThe investor was a former marketer for Massachusetts Mutual Life Insurance. In 2021, through YouTube videos and Reddit posts, Gill encouraged a band of retail traders to squeeze out short selling hedge funds in GameStop.
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