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Wall Street is standing its ground as “Roaring Kitty” makes another attack.

In a Reddit post on Sunday, Keith Gill, the "Roaring Kitty meme stock investor" who brought back wild trading of GameStop and AMC Entertainment shares last month, disclosed that he had purchased GameStop stock for around $116 million.

Wall Street is standing its ground as "Roaring Kitty" makes another attack.
Wall Street is standing its ground as “Roaring Kitty” makes another attack.

He purchased 120,000 call options with a $20 strike price, according to the screenshot. This implies that, until a certain date, Gill is entitled to buy 12 million shares in GameStop for $20 apiece.

The closing price of GameStop shares on Wednesday was $46.55, which is more than twice the amount that those options locked in. On Monday, a screenshot showed that in only one trading session, he had gained $54 million on paper.

Gill revealed a new picture on Thursday, indicating that he hasn’t sold any of his GameStop holdings since the screenshot from Monday and that his holdings are currently valued at over $500 million. The screenshots have not been independently verified by CNN.

Recalling the market frenzy of 2021, Gill’s return to social media sent meme stocks, like those of GameStop and AMC Entertainment, skyrocketing. Meme stocks are the stocks of firms that have a cult following and whose popularity on social media causes them to fluctuate greatly instead of their actual value.

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