Roaring Kitty's Portfolio Takes a $235 Million Hit as GameStop Shares Sink
GameStop's share slump on Friday shaved $235 million off the portfolio of meme stock retail trader Keith Gill, known as "Roaring Kitty."
Roaring Kitty took a $72.35 million hit on his stock holding for the day, as $GameStop (GME.US)$ shares tumbled. His call options, meanwhile, shrank by $163.5 million as the value of the contracts slumped along with the share price, according to the screen shot of his portfolio uploaded during his YouTube livestream Friday, before the share decline deepened. We could not independently verify whether the screenshot was real.
Shares sank 41% to $27.43 at 1:36 p.m. after the company reported disappointing quarterly financial results Friday morning and announced that it's selling as much as 75 million shares, diluting the stake of existing shareholders.
Net sales for the fiscal first quarter ended May 4 shrank to $881.8 million, from $1.24 billion in the comparable period a year earlier, the company said in its press release.
The company filed for the new stock offering after selling a total of 45 million shares for $933.4 million, according to the document sent to the Securities and Exchange Commission.
While Roaring Kitty talked up his investment thesis for the stock, that didn't slow the decline.
Still, we cannot verify whether the screenshot he provided at Friday's YouTube livestream was real or edited.
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Luzi Ann Santos
Moomoo Senior News and Community Manager
Former editor at Bloomberg, ex-commentary editor at Lazard. Posts aren’t investment advice. Views are just mine.
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Carter Webb : Damn
Matamar : He’s still holding . Monkey see monkey do.
71039695 Matamar : ok
RoutineWarthog : bitingpussy's revenge
ReyB21 : I do t get it. why in the hell didn't he put the money on the crypto world?
It will be better off all the eyes are on him and against him. I just saw his livestream it IS OBVIOUS that HES BEEN WATCHED BY THE SEC AND HEDGE FUNDS, WHICH ARE LOOKING FOR ANY LITTLE EXCUSE TO STOP HIM AT ALL COST AND THE RETAILERS GET FUCKED.
THE STORY REPEATS AND SMALL INVESTORS LIKE US GET SCREWED BY THESE SEC AND HEDGE FUNDS.
71386144 : Was Roaring k appearance designed to be a positive, offsetting the two negatives : earnings report loss and stock dilution? If so, it backfired. He is a juvenile who got intoxicated on tv. Psychological diagnosis? Presumptuous because of his stock windfall?
If the above 3 things were coordinated, is that illegal colluding? Though he lost millions, SEC may still care.
trent abel : they just wanted to send a message, today they shorted it more than what they did in 2021
trent abel 71386144 : lol who cares if he drinks and it wasn't tv unless you used the YouTube on your TV. I highly doubt he's coordinating with the gme CEO. That's some flat earth shit
71386144 trent abel : ?
Space Dust : what portion would you attribute to the stock offering versus the quarterly results?
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