This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
In a striking example of just how disruptive is the ongoing meme stock mania 2.0, one that has seen aggressive albeit ephemeral pumps in GameStop and AMC shares, Roaring Kitty - the inarguable architect of this retail-led movement - now qualifies for the SEC's Form 13G reporting requirements.
For the benefit of those who might not be aware, Roaring Kitty provided an update on Reddit just a few hours back, revealing that he now holds around $65 million worth of $20 calls on GameStop along with over $115 million worth of shares and $29 million in cash.
.@TheRoaringKitty is back with another #GameStop pump.
Is it really him?
This time he simultaneously made a post on reddit under his username "/u/DeepFuckingValue". So the odds are pretty high it's him.
He shared a screenshot of $115,000,000 worth of $GME shares and… https://t.co/Dou55Shihh pic.twitter.com/fK1hZmSAVF
— Colin Talks Crypto 🪙 (@ColinTCrypto) June 3, 2024
As per Roaring Kitty's Reddit update, assuming that the post faithfully represents his true holdings, the architect of the meme stock mania now owns 5 million physical GameStop shares. He also retains control over an additional 12 million shares through his 120,000 call options on the stock. This stake of 17 million shares equates to around 5.57 percent ownership in GameStop, based on the company's 305.30 million shares outstanding.
This stake qualifies Roaring Kitty for the SEC's Form 13G reporting requirements under the head of a passive investor, one who owns over 5 percent of a company but does not intend to change or influence that company's control paradigm (through management changes, for example).
Critically, as per the prevailing rules, a Form 13G must be filed "within 10 calendar
days of crossing the 5% threshold." If we assume that Roaring Kitty crossed the 5 percent ownership threshold vis-a-vis GameStop on Friday, he must submit the requisite filing by the 10th of June or face punitive actions, including fines.
Meanwhile, the latest GameStop pump appears to be already fizzling out. To wit, after being up over 80 percent in very early pre-market trading, the stock is currently up just around 30 percent. Even so, as per the tabulation by Ortex, GameStop short-sellers are on course to lose nearly $1 billion relative to Friday's closing price.
BREAKING: Citron Research's Andrew Left said he is short GameStop. $GME, again on May 16.
RoaringKitty just released a $180 million dollar position.
Andrew Left bet against GameStop in 2021, covering his short positions at an approximate 100% loss.
— unusual_whales (@unusual_whales) June 3, 2024
Meanwhile, the brewing altercation between Roaring Kitty and Andrew Left looks increasingly personal.
About the author: Writing is my one incontrovertible passion. Over the past six years, he has authored over 2,200 distinct articles on financial and tech-related topics, spanning nearly 1 million words. And he has been a member of Wcctech mobile team since 2025. As an alumnus of the University of Toronto, Rotman Commerce Program, I bring nuance, in-depth knowledge, and a unique perspective to every topic that I cover. When I'm not writing, I'm traveling the world, exploring hidden confectionaries and restaurants as an aspiring food connoisseur.
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