Traders in GameStop believe Keith Gill, famously known as Roaring Kitty, might be angling for a board seat after upping his stake to over 2% of the company. Known for his role in the 2021 GameStop short squeeze, Gill recently revealed he’s made $58 million since early this month. His latest trade, bringing his holdings to 9 million shares, sends a clear message to GameStop CEO Ryan Cohen, who previously diluted shares, thwarting Gill’s gains. This calculated move suggests Gill intends to influence GameStop’s direction, potentially mirroring Cohen’s rise to power within the company. A meme posted by Gill is being interpreted by his loyal base as poking fun at Cohen for this very reason:

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Roaring Kitty’s band of small GameStop shareholders saw a hidden message in his latest update. Gill’s previous plans were foiled when Cohen issued 75 million new shares, causing a significant drop in stock value. On his 38th birthday, Gill appeared on his livestream with his arm in a sling and a bandage on his head, humorously acknowledging the setback. Despite this, his new position of 9,001,000 shares matches the number Cohen owned when he first raised his stake, hinting at Gill’s strategic intentions. The drop in stock value appears to have foiled Gill’s aspirations of being a billionaire – for now.

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Background: Keith Gill, known online as Roaring Kitty, gained fame during the COVID-19 pandemic for his role in the GameStop short squeeze, where retail investors caused a dramatic surge in GameStop’s stock price, challenging major hedge funds. Gill’s humorous and meme-filled approach resonated with small investors, who rallied behind his vision of turning around the struggling brick-and-mortar game retailer. Despite facing setbacks, Gill’s latest move underscores his continued commitment and strategic vision for GameStop’s future.