Keith Gill, a prominent stock trader known for his involvement in the GameStop (GME) short squeeze of 2021, is steadily approaching billionaire status as GME shares continue their upward trajectory.

Gill, also recognized by his online aliases 'Roaring Kitty' and 'DeepFuckingValue,' recently disclosed his return to trading GME, this time with a substantial $180 million at his disposal.

In a noteworthy move, the trader shared details of his $115.7 million stake in GME shares and $65.7 million in call options on his Reddit profile.

This fresh revelation from Gill reverberated through the stock market, leading to a surge in GME's stock value. Within minutes of the announcement, GME witnessed a 19% surge in Robinhood's overnight markets, culminating in a 38.8% rise in stock shares by 2024's close.

GME's current price stands at $46.55, reflecting a remarkable 118% growth since Gill's latest trading disclosure.

Gill Nears Billionaire Status

According to global capital market analysts at The Kobeissi Letter, Gill is poised to achieve billionaire status as GME's stock price soared to $67.50 per share in after-hours trading. These analysts anticipate that if GME initiates trading at its current levels, Gill's position could reach a substantial combined worth of $1 billion.

Furthermore, the analysts underscored the significant surge in GME's stock, closing 110% higher than on June 6 and adding a remarkable $9.5 billion in market capitalization within a 12-hour span. This surge propelled the company's valuation to $20 billion, solidifying its rank among the top 400 public companies in the United States.

Market Manipulation Allegations Against Gill

On June 3, established GameStop short-seller Citron Research criticized Gill's recent trading activities, accusing him of market manipulation in an online post and insinuating potential collaboration with others. Citron Research stated:

'We believe someone is backing Gill — there’s no way he made this size trade alone. His reported finances don’t support this trade. Investors will see through this roaring Icarus.'

Subsequently, on June 4, the securities regulator in Massachusetts reportedly initiated an investigation into Gill's trading actions. In a CNBC interview, former Chicago SEC official Lisa Braganca indicated that the inquiry would likely focus on whether Gill is exerting influence on the market.

Braganca elaborated on the regulators' probe, highlighting potential partnerships Gill might have, scrutinizing his communications such as texts, emails, and interactions on social media platforms like Reddit or X.

The overarching concern is the possibility of market manipulation for personal gains through illicit disclosures.

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