Keith Gill, who goes through DeepF —— Value on Reddit and Roaring Kitty on YouTube, says he suffered a $ 13 million loss north just Tuesday for his GameStop bet, but he still doesn’t sell.
He’s the man who helped inspire GameStop’s epic tight compression last week that sparked shockwaves on Wall Street. Through YouTube videos and Reddit posts, Gill attracted an army of day traders who cheered and piled on call options and brick-and-mortar video game actions, creating a small squeeze as the actions went on. jump 400% last week.
Gill says it has had 50,000 GameStop shares and 500 video game retail call options since early 2021. At GameStop’s record high last week, Gill’s total return on behalf rose more than 2,000% to 33 millions of dollars, according to his Reddit posts.
However, GameStop’s small squeeze started to fade this week, which was a big sting of Gill’s big gains. Apparently, the trader lost $ 13.6 million in its positions in shares and calls to GameStop, following the loss of more than $ 5 million on Monday.
Shares of video game retailers fell 60 percent on Tuesday and have lost more than 70 percent of their value since Friday.
Gill started promoting GameStop six months ago on YouTube, telling its subscribers how 100% more short interest in the name could work in their favor. While on Reddit’s famous WallStreetBets forum, he’s been posting screenshots of his GameStop returns for more than a year, in what he calls his “GME YOLO (You Only Live Once) update”.
The investor owned 10,000 GameStop shares by the end of 2020 and increased its stake in the new year, according to its Reddit posts.
Gill’s latest seven-hour YouTube live stream on Jan. 22, which detailed his GameStop business, garnered more than 650,000 views.
“Hello everyone,” Gill said in the video to his more than 300,000 subscribers, with a champagne class. “Today is a historic day, definitely a giant day.”
The Wall Street Journal interviewed the 34-year-old investor last week in a profile, which revealed his career as a college star, as well as a former Massachusetts Mutual Life Insurance salesman.
Gill did not respond to CNBC’s request for comment via Twitter and Reddit.
– Jared Young of CNBC contributed the information.
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