“DeepF – ingValue” went red.
The Reddit user who helped spark the explosive concentration of the price of GameStop shares said he lost more than $ 13 million in a single day when shares crashed.
Keith Gill, the man from Massachusetts best known as DeepF – Value on Reddit and “Roaring Kitty” on YouTube, revealed the loss on Reddit’s WallStreetBets forum, where he has been sharing regular updates about his investment in GameStop.
Gill has 50,000 shares in the video game retailer along with 500 call options. The value of its stake fell $ 13.6 million on Tuesday, as the price of GameStop shares fell 60 percent, adding to a loss of approximately $ 5.2 million on Monday, according to screenshots of your brokerage account you posted on Reddit.
Even with these losses, Gill says he made a $ 7.6 million profit on his GameStop bet, which he reportedly started with a $ 53,000 investment in June 2019. He doesn’t appear to have sold no action or option since the shares collapsed this week.
Gill has become an internet celebrity since his fellow WallStreetBets performed one of the biggest short compresses in history, reaching the price of GameStop shares up to $ 483 last week.
He explained the weight Wall Street investors had bet on GameStop in a video last year on YouTube, where it has 334,000 subscribers, according to CNBC. The thesis helped spark an online revolution that disrupted financial markets and caught the attention of regulators.
“I wasn’t expecting it,” Gill, 34, told the Wall Street Journal in an interview published last week. “This story is much bigger than me.”
Gill did not immediately respond to a message posted to his Reddit account Wednesday morning.