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RoaringKitty boosts GameStop share position after exercising options, becomes 4th largest holder

Published 06/13/2024, 05:03 PM
Updated 06/13/2024, 05:04 PM
© Reuters RoaringKitty boosts GameStop share position after exercising options, becomes 4th largest holder

Meme-stock guru RoaringKitty, aka Keith Gill, updated followers about his GameStop (NYSE:GME) position Thursday afternoon, showing that he exercised his call options and now owns more shares.

RoaringKitty now owns 9,001,000 shares of GME, up from 5 million shares. He no longer owns any options, which had been at 120,000 call options in total.

It appears Gill took profits on 80,000 call options he had and exercised the other 40,000 call options, which would equal the 4 million new shares. Each opinion contract equals one hundred shares.

His average share cost on GME is now $23.4135, suggesting a paper gain of $51 million.

Gill's over 9 million share position makes him the fourth largest GME shareholder, behind only Ryan Cohen's RC Ventures, Vanguard, and BlackRock.

Earlier today, the company postponed its annual meeting due to a technical problem related to "unprecedented demand" from shareholders looking to access the meeting. The meeting will now take place on Friday, June 14th at 4PM ET.

Shares of GME are up fractionally after-hours after gaining 14.4% intra-day.

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