Keith Gill, the stock trader who rose to prominence during the 2021 GameStop short squeeze, is poised to potentially join the billionaire ranks amid a resurgence in GameStop shares. Known online as “Roaring Kitty” or “DeepFuckingValue,” Gill disclosed on June 2 that he held $180 million worth of investments in GameStop. This comprised $115.7 million in shares and $65.7 million in call options.

Gill’s renewed investment in GameStop triggered a significant uptick in the company's stock price, causing Robinhood's overnight markets to witness a nearly 20% increase in GameStop shares just moments after his announcement. So far in 2024, GameStop shares have risen impressively by 38.8%.

Analysts from The Kobeissi Letter suggested that if GameStop’s price maintains its current momentum and starts trading at its after-hours price of $67.50 per share, Gill’s holdings in GameStop could potentially reach $1 billion, positioning him near billionaire status.

However, Gill’s large-scale trading activities have also sparked controversy. Citron Research, a notable GameStop short-seller, accused Gill of market manipulation, alleging that he had external backing for his substantial trades.

In response to these allegations, securities regulators in Massachusetts initiated an investigation into Gill’s trading practices, focusing on potential market manipulation. The investigation will examine Gill’s communications through various channels, including texts, emails, and Reddit posts, to determine whether his actions were aimed at illicitly influencing the market for personal financial gain.