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Roaring Kitty has lost more than $350 million on GameStop since Thursday

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In the past four days alone, meme stock influencer Keith Gill, also known as Roaring Kitty, has lost more than $350 million on his position in GameStop (GME).

You can’t tell by his behavior. As GME continued to lose value on Monday, Jill Mocked His own wealth, and posting memes on Twitter that belittle his financial situation. As the price dropped in real time during Friday’s live broadcast, his first in three years, he wore fake bandages and put a splint on his arm while acting injured.

But the hits the world-famous stock trader has taken over the past few days are no joke. Just last Thursday, Gill was making more than $382 million in profits (on paper, at least) from options placed on GME, according to screenshots of an ETrade account he made. to publish On Reddit.

Then, GameStop’s dismal quarterly earnings report sent the stock flying They fly in a spiral. On Friday, Gill lost more than $235 million on his position in GME. The bloodshed continued on Monday, when GME stock fell an additional 12%, after falling 40% in the hours leading up to the weekend.

GME closed at $24.83 on Monday afternoon. To give some sense of the loss: In after-hours trading Thursday evening, the stock rose to $61.27.

The price action has wiped out almost all of Jill’s recent gains. By Monday evening, The influencer reported It was still about $31 million in the black, meaning it lost about $351 million in profits since last week.

It remains unclear whether an entire generation’s GME pot may also be in legal jeopardy.

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Last week, reports emerged that regulators Investigation Gill over manipulation concerns with a series of cryptic (and not very cryptic) tweets over the past few weeks, which sent GME and other stocks memes and related… Encryption codes to rise. Even ETrade itself is said Taking into account the Block him as a user.

The saga is somewhat reminiscent of the famous 2021 Khaha of GME shares by retail traders, designed by Jill. In that case, the SEC investigated the matter, but eventually determined There was no market manipulation.

Edited by Andrew Hayward

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.

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