The GameStop (GME) stock has the potential to transform Keith Gill, also known as 'Roaring Kitty,' into the first GME billionaire in the upcoming week, while short sellers are facing substantial losses.

Gill, the trader widely recognized for initiating the GameStop saga, has seen his GME position increase by over $300 million.

If GameStop's upward momentum continues, Gill could attain billionaire status this week, as stated in a June 3 X post from the Kobeissi Letter:

'Roaring Kitty' has seen his $GME position surge by over $300 million, contributing $5 billion to the stock market cap in a single day, hinting at his potential billionaire status.

The forecast comes after the GME stock experienced a remarkable 74% price surge in pre-market trading on Monday, according to data from Google Finance.

Roaring Kitty's Significant GME Holdings

Interest in the GME stock resurged this week following Gill's Reddit post revealing his $181.4 million GME stock and call options holdings, shared on June 2.

Gill's screenshot displayed his purchase of five million GME shares worth $115.7 million and investment of $65.7 million in call options, speculating GME to reach at least $20 a share by June 21.

Over the past five days, the GME stock price has surged by more than 25%, and in the last month, it has spiked by over 40.5%, reaching $23.13 as of 11:45 a.m. UTC.

During the first GameStop short squeeze in 2021, the GME stock witnessed a remarkable over 1,000% surge within a month.

Struggle of GME Short Sellers

Short sellers of GameStop are experiencing significant losses, with a cumulative monthly loss of around $1.4 billion, according to financial data provider S3 Partners in a post dated May 30.

Citron Research, in a June 3 post by the Kobeissi Letter, was highlighted as the latest major firm to disclose its short GME position:

'Citron Research recently announced a new short position. On May 16th, Citron declared their short position on $GME once again, resulting in a loss exceeding $100 million during the 2021 shorting episode.'

In early 2021, Citron Research was compelled to close its short GME positions at a loss triggered by the retail buying frenzy influenced by Gill.