GameStop (GME) stock surged on Monday after user "DeepF***ingValue" on Reddit, an account believed to be tied to individual investor Keith Gill — who ignited the meme stock rally back in 2021 — posted a screenshot on Reddit late Sunday that purported to show they'd built a nearly $175 million position in the video game retailer.
Gill is also known as Roaring Kitty on X and YouTube. The user posted the screenshot Sunday night on Reddit's Superstonk subreddit.
GameStop gained as much as 75% at the market open after doubling at one point during pre-market trading; near 10:00 a.m. ET, the stock was up closer to 35%
The screenshot showed holdings of 5 million GameStop shares purchased at an average price of $21.274, a position worth $115.7 million as of Friday's closing price of $23.14. GameStop shares traded hands at $38 each in early trading Monday before they were temporarily halted for volatility.
The account also appears to own 120,000 options contracts that expire on June 21. These contracts confer the right to buy GameStop shares at $20 each, a position worth $65.7 million as of Friday's close.