Roaring Kitty Acquires an Additional 4 Million GME Shares

He also disclosed that he closed his GME call options set to expire the following week.

Community speculation suggests Roaring Kitty may join GME's board of directors

With Gill’s shares surpassing 9 million, community members have begun speculating that he could be positioning himself to join GameStop's board of directors.

Referring to a GameStop filing, one stock trader believes Gill's increased shareholding makes him the company's fourth-largest shareholder. This trader expects that the stock's momentum could push GME's price up to $200. Meanwhile, another trader predicts Gill's potential board membership could lead to a significant price surge.

Jacob Slade, founder of Mt. Zion Market Ventures, noted that Gill now holds a comparable number of shares as GameStop CEO Ryan Cohen did upon joining the company. Furthermore, a meme from the sitcom The Office posted on Gill’s official X account has added to the speculation.

Slade also mentioned a GameStop website Easter egg referencing Roaring Kitty. He speculated that GameStop's annual meeting was rescheduled to June 17 due to National Take Your Cat to Work Day, suggesting it could relate to Gill potentially joining GameStop.

Roaring Kitty’s impact on GME resurgence

On June 2, GME’s price surged when Gill revealed his $180 million position in the stock. On Reddit, he disclosed holdings of $115.7 million in GME shares and $65.7 million in call options, causing a notable market reaction. GME saw a 19% increase on Robinhood just 20 minutes after Gill's update.

Amidst the price rally, community members speculated that Gill's holdings could potentially reach $1 billion if the after-hours trading rates of $67.50 on June 7 were sustained. However, GME did not reach that level, and it currently trades at $29 per share.