Keith Gill, known online as Roaring Kitty, posted on Reddit that he is holding $181.4 million worth of GameStop (GME) stock and call options.

Following his Reddit post, GME, ROAR, and KITTY meme coins gained 315%, 660%, and 477%, respectively.

GameStop Meme Coin Rally

Gills post, titled GME YOLO update June 2, 2024, marks his first Reddit activity in three years. Under his account u/DeepFuckingValue, Gill disclosed $65.7 million in GameStop call options and $115.7 million in shares.

According to Jason Hitchcock, Head of Ecosystem at web3 development platform thirdweb, Gill’s combined holdings effectively equate to owning 17 million GameStop shares. At the last trading price of $23 per share, this puts the value of his position at approximately $391 million, representing 5.6% of GameStops market cap.

For those who need this translated:

Call options give the buyer the right to purchase shares at a set price. They provide leverage because a small change in stock price can lead to a large change in the options value

Delta measures how much an options price is expected to… pic.twitter.com/Wd1rUKrJ3n

Following Gills post, meme coins inspired by GameStop and Roaring Kitty saw significant growth. GME, ROAR, and KITTY surged by 315%, 660%, and 477%, respectively, according to CoinGecko data. However, they have retraced, trading at $0.01005, $0.00959, and $0.00181, respectively, at the time of writing. GameStops stock itself has had a pre-market increase of over 300%.

GME is a Solana-based token that uses the same ticker as GameStop but has no official affiliation with the company. Similarly, ROAR and KITTY are themed around Gills online persona but are not officially connected to him.

Roaring Kitty Teases GameStop Frenzy Return

The Roaring Kitty X account was also reactivated last month, with a Sunday post featuring an Uno reverse card hinting at a repeat of the 2021 GameStop frenzy, where Gill and the subreddit /WallStreetBets were central figures in the meme stock frenzy that saw shares of GameStop and AMC Entertainment soar over 1,000%.

.@TheRoaringKitty is back with another #GameStop pump.

Is it really him?

This time he simultaneously made a post on reddit under his username /u/DeepFuckingValue. So the odds are pretty high its him.

He shared a screenshot of $115,000,000 worth of $GME shares and… https://t.co/Dou55Shihh pic.twitter.com/fK1hZmSAVF

However, not all reactions were positive. A post on r/WallStreetBets expressed frustration at Gill’s long absence and the resulting uncertainty for retail investors. DFV posted in r/Superstonk, and you should go over there and do ape stuff if youre into that,” wrote contributor u/zjz.

“Good luck RK, crazy f—ing position, but your whole schtick and disappearance really f—ed retail up and itd be nice if you didnt leave them on a cliffhanger for the rest of the world to deprogram this time.

Trader Keyboard Monkey on X cautioned that Gills recent actions might be a setup to capitalize on the renewed hype.