GameStop Nearly Doubles in Pre-Market Trading as Roaring Kitty Returns Again

After abruptly going silent two weeks ago, the Roaring Kitty Twitter account is back. And so too is the GameStop share price, which has nearly doubled in pre-market trading to $38.88 at the time of writing.

The Twitter account belongs to Keith Gill, a financial analyst turned stock and meme influencer. He was instrumental in the 2021 GameStop short squeeze, which saw the GME share price shoot to an all-time high of $483. The huge swing led to big gains for some retail investors and staggering losses for a number of hedge funds.

Early on Monday morning, the account posted an image of an Uno reverse card—presumably walking back the "E.T. the Extra-Terrestrial"-themed farewell sent from the account on Friday, May 17.

The last time the Twitter account started posting again, people were suspicious because Gill's other social media accounts on Reddit and YouTube remained silent.

This time, Gill's Reddit account DeepFuckingValue posted on the SuperStonk subreddit to claim that he was the GameStop whale who had been buying up $20 call options for GME with a June 21 expiry. The stock options are essentially a bet that GME will be worth more than $20 on June 21.

Even before Roaring Kitty claimed to be the GME whale, his trading was getting lots of attention because its position had swelled to $116 million. It was just a few weeks ago that one GameStop whale made headlines for pocketing $44 million by selling GME options right before the Roaring Kitty Twitter account went silent.

How a GameStop Options Trader Made 4,800% Profit

A GameStop whale turned a $908,000 investment into $44 million in less than a month, according to Unusual Whales. The trader in question purchased call options on April 24. The contracts gave the investor the option to purchase GameStop stock (GME) at $12 a share when they expired on May 17. The trader purchased 25,330 of these contracts at $0.36, each contract allowing the investor to buy 100 shares of GME at $12 per share. Their initial investment totaled $908,168. $GME 12c 5/17 whale just cl...

Gill's apparent return has caused the GME price to again rally, nearly doubling since Friday afternoon. That means Gill's GME bags could be worth as much as $214 million by the time markets open in the U.S. later today.

But Gill's second return has not been met with universal applause.

On the Wall Street Bets subreddit, one moderator wrote a post to remind the community that WSB is not a GameStop subreddit. "That's not what we're about, we'd much rather you go do ape stuff elsewhere," wrote Reddit user zjz. In another post, GME was referred to as "the stock that shall not be named."