GameStop shares increase by 50%, Following a trader known as "Roaring Kitty," whose account shows a $116 million position,

 Important Points

On Monday, GameStop had another surge due to conjecture that Keith Gill, better known as Roaring Kitty on X and YouTube, would hold a significant role in the video game vendor.

Gill, who also goes by the Reddit handle DeepF------Value, resurfaced on Sunday night and shared a screenshot of what appeared to be his portfolio, which may have included a sizable number of call options and common shares of GameStop.

The trader's account snapshot on Reddit is r/SuperStonk forum shows that as of Friday's closing price, he had 5 million shares in GameStop, valued at $115.7 million.

Memes in stock On Monday, GameStop surged once more due to rumors that Keith Gill, the person behind the historic short squeeze of 2021, would hold a significant stake in the video game store.

The previous trading saw shares rise by over 50% to nearly $34.65 per share. Due to volatility, the NYSE momentarily halted trading in the name. At the open, it rose by over 70%.

Gill, who goes by the handles DeepF------Value on Reddit and Roaring Kitty on YouTube and X, made a comeback on Sunday night when he shared a screenshot of what looked to be his portfolio, which included a sizable number of call options and common shares of GameStop.

As of Friday's closing price, the most popular trader on Reddit appears to have 5 million shares of GameStop valued at $115.7 million. This information can be found in the account snapshot that was shared on the r/SuperStonk post. A position of 120,000 call options in GameStop with a $20 strike price and an expiration date of June 21st was also displayed in the account. These options were bought for around $5.68 per. On Friday, shares of GameStop ended at $23.14.

CNBC did not independently verify the post. Interestingly, while using the same login, he did not post in the iconic WallStreetBets chatroom where he posted all of his trade updates during the height of the GameStop frenzy over three years ago.

Gill shared a mysterious image of an unorthodox card from the game "Uno" on X at approximately the same moment on Sunday night.

AMC's stock rose 30% on Monday, following a 48% increase in the chain of movie theaters in May during the resurgence of the meme stock mania. On Monday, Reddit is stock increased by 5%.

After Gill made his first appearance on social media three weeks ago, GameStop saw an incredible surge, with shares more than doubling in only the month of May. Even though all he had shared at the time was an image of a man bending forward on a chair, amateur traders went into a buying frenzy.

GameStop raised about $900 million from the sale of its stocks, capitalizing on the May surge.

The investor used to work as a Massachusetts Mutual Life Insurance marketer. at 2021, Gill inspired a group of ordinary traders to push out hedge funds at GameStop by use of Reddit posts and YouTube broadcasts.

At one point the trading activity became so intense that brokerages, including Robinhood, were forced to limit trading in the stock due to the stock blowing out their clearinghouse margin. In addition, the frenzy brought Gill to several congressional hearings concerning the activities of brokers and the gamification of retail trading.

Investors are placing their faith in CEO Ryan Cohen to finally turn around GameStop, which is still having difficulty making the switch from physical to digital gaming.