Reddit trader ‘Roaring Kitty’ behind GameStop rally says he lost $13mil in one day

[jimnyc]

@fj1200 @Kathianne I know one or both of you were talking about the obvious and impending crash of this stock.

Again, I'm not one who knows the most. But if he has 50,000 shares since 2019

He's apparently taken a loss of $18.8 million dollars Mon-Tues. And he still has $7.6 million remaining. Why didn't he cash out when it stopped at it's highest point? Why not after Monday? Could he not do so? Can he do so now with his $7+?

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IN THE RED Reddit trader ‘Roaring Kitty’ behind GameStop rally says he lost $13MILLION in one day

Keith Gill — otherwise known as as DeepF—ing Value on Reddit and “Roaring Kitty” on YouTube - revealed the loss on Reddit’s WallStreetBets forum.

He's been sharing regular updates on his GameStop investment after he kickstarted a frenzy of buying shares in the company.

Gill has 50,000 shares in the video-game retailer along with 500 call options.

But the value of his stake dropped by $13.6 million on Tuesday as GameStop’s share price tumbled 60 percent, adding to a roughly $5.2 million loss on Monday.

Even with those losses, Gill says he’s racked up a $7.6 million gain on his GameStop, which reportedly started with a $53,000 investment in June 2019.

He doesn’t appear to have sold any shares or options since the stock sank this week.

Gill has become an internet celebrity since his fellow WallStreetBets users carried out one of the biggest short squeezes ever, driving GameStop’s share price as high as $483 last week.

According to CNBC, he outlined how heavily Wall Street investors had bet against GameStop in a video last year on YouTube, where he has 334,000 subscribers.

“I didn’t expect this,” Gill, 34, told The Wall Street Journal in an interview published last week.

“This story is so much bigger than me.”

https://www.the-sun.com/news/2263010...ty-keith-gill/

[fj1200]

@fj1200 @Kathianne I know one or both of you were talking about the obvious and impending crash of this stock.

Again, I'm not one who knows the most. But if he has 50,000 shares since 2019

He's apparently taken a loss of $18.8 million dollars Mon-Tues. And he still has $7.6 million remaining. Why didn't he cash out when it stopped at it's highest point? Why not after Monday? Could he not do so? Can he do so now with his $7+?

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I wouldn't think of any reason he couldn't sell what he has. Even when Robinhood cut off trading they were still allowing liquidating positions. It's tough to guess the top but not quite sure what he would be waiting for. Maybe he thinks it'll start climbing again. Who knows.

Along these lines I did see a story about the billions "lost" in market value in Gamestop from its peak. Anyone who bought in at the top is taking a bath.

[fj1200]

Sticking it to the hedge funds.

A Hedge Fund Bet In Favor Of GameStop And Made Away With $700M In Reddit-Fueled Rally

https://finance.yahoo.com/news/hedge...045648246.html

[jimnyc]

I wouldn't think of any reason he couldn't sell what he has. Even when Robinhood cut off trading they were still allowing liquidating positions. It's tough to guess the top but not quite sure what he would be waiting for. Maybe he thinks it'll start climbing again. Who knows.

Along these lines I did see a story about the billions "lost" in market value in Gamestop from its peak. Anyone who bought in at the top is taking a bath.

I know my first thoughts when I read about this after day #1 was - it's obviously going back down. I know you can take chances and hope for even better, but I think my ass was cashing out after day 1 or 2 tops.

[jimnyc]

Sticking it to the hedge funds.

A Hedge Fund Bet In Favor Of GameStop And Made Away With $700M In Reddit-Fueled Rally

https://finance.yahoo.com/news/hedge...045648246.html

Link wasn't working so I fixed for ya!

So basically they jumped on board, albeit differently, and beat out everyone? The more you have to invest, the more ya make!

[Kathianne]

I know my first thoughts when I read about this after day #1 was - it's obviously going back down. I know you can take chances and hope for even better, but I think my ass was cashing out after day 1 or 2 tops.

Vegas bets folks don't give up. Lol!

[fj1200]

Link wasn't working so I fixed for ya!

So basically they jumped on board, albeit differently, and beat out everyone? The more you have to invest, the more ya make!

Gracias.

I think they were already in playing the upside and then it took off on them. Even elitist hedge fund boats rise sometimes.

[jimnyc]

Vegas bets folks don't give up. Lol!

Yeps, and doubling down on something that is a known loser and just a matter of when - great bet with massive chances. And the Vegas betters types get in the zone and probably went all in as they went.