KEITH GILL, known online as Roaring Kitty, has revealed a $116m stake in Gamestop, sending the meme stock soaring to close up over 20 per cent - down from morning highs breaking 40 per cent.

Gill was an advocate for Gamestop in 2019, arguing that the company was undervalued, but disappeared online after encountering legal troubles and seeing an odd cult emerge in 2021.

Gill tweeted for the first time in three years last month, causing Gamestop's stock to jump more than 170 per cent.

Now, Gill's first Reddit post since April 2021 has revealed that he currently owns five million Gamestop shares, bought for $115.7m, while also putting $66m into options that Gamestop will be at least $20 a share by 21 June.

Titled 'GME YOLO update - June 2 2024', the post has since been upvoted 71,000 times, and also showed that Gill had made over $9m on Gamestop so far.

Rumours have swirled that Gill had either sold his online accounts or been hacked, and the screenshot of the portfolio contains no identifying marker.

Nigel Green, CEO of DEVERE Group, said: "If those gains hold, the stock would add around $8bn to its market capitalisation.

"These super quick, super high, headline-grabbing figures are likely going to attract another huge wave of interest and, therefore, capital."

"This is the first post by meme messiah in three years, posting to his loyal following and showing his true power level," added Lily Francus, CIO of investment fund Novi Loren.

"This is closer to a religious event than a market one."

(c) 2024 City A.M., source Newspaper