“DeepF – ingValue” went deep into the red.
The Reddit user who sparked the explosive rally in GameStop’s stock price said he lost more than $ 13 million in one day when the stock crashed.
Keith Gill – the Massachusetts man better known as DeepF – ing Value on Reddit and “Roaring Kitty” on YouTube – revealed the loss on Reddit’s WallStreetBets forum, where he regularly shares updates on his GameStop investment.
Gill owns 50,000 shares in the video game store, along with 500 call options. The value of his stake fell $ 13.6 million on Tuesday as GameStop’s stock price plummeted 60 percent, contributing to a loss of about $ 5.2 million Monday, according to screenshots of his trading account he posted on Reddit.
Even with those losses, Gill says he made a profit of $ 7.6 million on his GameStop bet, which reportedly started with an investment of $ 53,000 in June 2019. He doesn’t appear to have sold any stock or options since the stock. this week has sunk.
Gill has become an internet celebrity since his fellow WallStreetBets users performed one of the biggest short squeezes ever, taking GameStop’s stock price to $ 483 last week.
He outlined how heavily Wall Street investors had bet against GameStop last year in a video on YouTube, where he has 334,000 subscribers, according to CNBC. The dissertation helped spark an online revolution that turned financial markets upside down and caught the attention of regulators.
“I didn’t expect this,” Gill, 34, told the Wall Street Journal in an interview published last week. “This story is so much bigger than me.”
Gill did not immediately respond to a message sent to his Reddit account Wednesday morning.