Keith Gill – who runs DeepF —— Value on Reddit and Roaring Kitty on YouTube – says he suffered a $ 13 million loss north of his GameStop bet on Tuesday alone, but still doesn’t sell.
He’s the man who helped inspire last week’s GameStop epic short, which sent shockwaves through Wall Street. Through YouTube videos and Reddit posts, Gill attracted an army of day traders who cheered each other up and piled up in the brick-and-mortar stock of video games and call options, creating a brief massive pressure as they went. which shares jumped 400% just last week.
Gill says it owns 50,000 GameStop shares, as well as 500 call options at its brick-and-mortar video game retailer since early 2021. At GameStop’s record high last week, Gill’s overall profitability has risen by more than 2,000. % up to $ 33 million, according to his Reddit posts.
However, the brief push from GameStop began to fade this week, taking a big bite out of Gill’s massive gains. It appears that the trader lost $ 13.6 million on its positions in GameStop shares and calls, after a loss of over $ 5 million on Monday.
The stock of the games retailer decreased by 60% on Tuesday and lost over 70% of its value on Friday.
Gill started promoting GameStop six months ago on YouTube, explaining to subscribers how the 100% short interest in the name could work to their advantage. 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 “the GME YOLO (You Only Live Once) update.”
The investor owned 10,000 shares of GameStop at 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 January 22, detailing his GameStop transactions, garnered over 650,000 views.
“Good luck to everyone,” Gill said in a video to his more than 300,000 subscribers, holding a champagne class. “A historic day today, no doubt a giant day.”
The Wall Street Journal interviewed the 34-year-old investor last week in a profile, which revealed his past as a college star as well as a former marketing agent for Massachusetts Mutual Life Insurance.
Gill did not respond to CNBC’s request for comment via Twitter and Reddit.
– Jared Young from CNBC contributed to the reporting.
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