Roaring Kitty Makes Potential $85 Million Profit from GameStop Amid Citron Research Speculation

Bittime - In a story as dramatic as a telenovela, Keith Gill, better known as Roaring Kitty, once again took center stage with his GameStop maneuver. This latest chapter in the meme stock battle has sparked significant media interest and speculation among analysts.

Latest Steps One Sunday Night

Roaring Kitty revealed his substantial holdings in GameStop: $65 million worth of call options at $20, more than $115 million in shares, and $29 million in cash.

The revelation sent GameStop shares soaring about 80 percent early Monday, although they closed with a more modest gain of 21 percent by the end of the trading day.

Potential Gains from Ownership

In a subsequent Reddit update, Gill revealed that his GameStop position had given him a gain of 48 percent, meaning an $85 million profit on that day alone.

Despite getting a breath of fresh air, he has not sold his shares or call options. His GameStop holdings, now equal to 17 million shares, require him to file Form 13G with the SEC.

Accusations of Citron Research Adding Fuel to the Fire

Citron Research, a well-known short seller, has questioned Gill's credentials and suggested that he may have support in his stock maneuvers. Citron expressed skepticism over Gill's ability to maintain a near-perfect record of substantial gains on GameStop since 2021, citing “large accounts” as a point of controversy.

Reaction from ETRADE and Morgan Stanley

The Wall Street Journal reports chaos within the Morgan Stanley-backed brokerage platform ETRADE. There have been calls from some to ban Roaring Kitty, while others fear a backlash from the retail investor community. This internal conflict has reportedly reached higher levels of management at Morgan Stanley.

Conclusion

Roaring Kitty's recent activities have not only earned him significant profits but have also reignited the debate about the dynamics of meme stocks and retail investing.

With Citron Research voicing doubts and institutional platforms like E*TRADE scrambling to respond with bans, the Roaring Kitty and GameStop saga continues to unfold, keeping investors and analysts on their toes.

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