Roaring Kitty’s $300 mn GME Position Sparks Market Manipulation Claims
Keith Gill, known as “Roaring Kitty,” has been accused by Citron Research of alleged market manipulation in his GameStop (GME) stock position.
The firm accused Gill of posting with a large account and a significant near-term option position, which appears more like manipulation without a solid thesis.
Gill is up over $300 million on his GME position, which could make him the first GameStop billionaire by the end of this week, provided that prices continue to rise.
Citron Research also alleged that Gill’s GME position may be financially backed by a larger entity. In January 2021, Citron Research closed out its short GME positions at a 100% loss due to Gill’s retail buying frenzy.
The GME stock price has increased by 21% on the daily chart and over 71% in the past month, trading at $28 in pre-market on June 4.
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