Finance
“Roaring Kitty’s GameStop position is in the money
Shares of GameStop fell for the second straight session on Monday, more than 49%, for the worst two-day stretch since Feb. 3, 2001, as tracked by Dow Jones Market Data Group.
Yet ‘Roaring Kitty’, also known as Keith Gill, is in the money with him GameStop ownership.
Gill posted his latest account achievements on Monday via his Reddit account, Superstonk/Deep F-ing Value. FOX Business, in collaboration with Dow Jones Market Data Group, has reviewed the figures.
WHAT YOU NEED TO KNOW ABOUT ‘ROARING KITTY’
Five million shares are worth $124.15 million at today’s close, $17.78 million more than the $106.37 he bought them for.
As for his $20 call options that he bought for $5.67, they are all currently trading at $6.81. The value of these options contracts is $81.72 million, $13.62 million more than the $68.10 million he bought them for.
‘ROARING KITTY’ MATCH BIG ON GAMESTOP MANAGEMENT TEAM
With the call options, if Gill exercises them, he will have the opportunity to buy 12 million shares at $20 per share, 120,000 contracts with each contract worth 100 shares, as detailed by Dow Jones Market Data Group. FOX Business cannot independently confirm the accuracy of Gill’s reports.
Gill’s update follows his YouTube livestream on Friday, his first return to the social media broadcaster in about three years.
During the livestream, which was watched by about 600,000 people, Gill reiterated his belief in the video game store with few new details.
“It will be a bet on GameStop’s management” – especially CEO Ryan Cohen “and his team” – during the “transformation phase” that he believes will video game retailer has entered. “That’s probably going to be an ongoing debate about what people think of him, and whether he can successfully transform that company,” the spokesperson said. meme stock said the retailer, making jokes here and there. He also reminded his viewers to “make your own decisions.”
Cohen founded Chewey.com and attempted an unsuccessful turnaround of Bed Bath & Beyond, which filed for bankruptcy and is now part of Overstock.com.
On Friday, ahead of the livestream, GameStop reported a net loss of $32.2 million, compared to a loss of $50.5 million in the same period a year ago. Revenue fell 28% to $881 million, a decline of $1.2 billion. The company also plans to sell an additional 75,000,000 shares, in addition to the 45,000,000 shares already sold.
GameStop shares are up 98% this quarter, thanks in large part to Gill’s returns.
Source of original article: “Roaring Kitty’s GameStop position is in the money
