Reported 6 months ago
GameStop shares surged after Reddit user Keith Gill, also known as Deep Value, posted a screenshot showing a $116 million position in the company, with 5 million shares and 120,000 call options. If exercised, the options could add 12 million shares to Gill's position, making him one of the top shareholders. This move comes after a previous surge in GameStop's stock fueled by Gill's social media activity, including a 271% jump and subsequent share sale by the company. However, analysts warn of excessive market exuberance and question the stock's valuation.
Source: YAHOO