Roaring Kitty, the infamous GameStop enthusiast, has seen his profits from GameStop options plummet by over $350 million as the stock price tanks 50% in two days.

Keith Gill, aka Roaring Kitty, was riding high on his GameStop (GME) position just last Thursday, with a profit of $382 million. However, the past four days have been a different story. His position has taken a significant hit, losing over $235 million on Friday and another $116 million on Monday. This price movement has wiped out nearly all of Gill's recent gains, resulting in a loss of approximately $351 million in profit over the past week.

The GameStop price has entered a steep correction, slipping by more than 50% from the Thursday levels and falling under $25. This decline has been attributed to the company's failed strategies and lack of a clear turnaround plan.

Michael Pachter, a GameStop analyst at Wedbush, expressed skepticism regarding the company's potential for a meaningful turnaround. He also suggested that any boost GameStop received from Keith Gill's involvement could be short-lived.

The $GME meme coin, which has no direct resemblance to the GameStop firm, has also dropped by 25% in the last 24 hours and is currently trading at $0.01596 with a market cap of $109 million.