“DeepF – ingValue” went deep into the red.
Reddit user who helped trigger the explosive GameStop stock price rally said it lost more than $ 13 million in one day as shares collapsed.
Keith Gill – the man from Massachusetts better known as DeepF – Ing Value on Reddit and “Roaring Kitty” on YouTube – revealed the loss on Reddit’s WallStreetBets forum, where he regularly shared updates on his GameStop investment.
Gill has 50,000 shares in the video game retailer, along with 500 call options. Its stake fell $ 13.6 million on Tuesday as GameStop’s share price fell 60 percent, adding to a loss of about $ 5.2 million on Monday, according to screenshots of its account. brokerage that he posted on Reddit.
Even with these losses, Gill says he won a $ 7.6 million win on his GameStop bet, which began with a $ 53,000 investment in June 2019. He doesn’t appear to have sold shares or options since sunk the action this week.
Gill has become an internet celebrity since his WallStreetBets colleagues made one of the biggest shorts ever, driving the GameStop stock price to $ 483 last week.
He pointed out how much Wall Street investors bet against GameStop in a YouTube video last year, where it has 334,000 subscribers, according to CNBC. The thesis helped spark an online revolution that turned financial markets upside down and caught the attention of regulators.
“I didn’t expect that,” Gill, 34, told the Wall Street Journal in an interview last week. “This story is much bigger than me.”
Gill did not immediately respond to a message sent to his Reddit account on Wednesday morning.