The GameStop (GME) position of Keith Gill, also known as “Roaring Kitty,” is drawing allegations of market manipulation from Citron Research.
Citron Research, a well-known short seller of GameStop, has accused Gill of manipulating the market. In a post on June 3, Citron stated:
“Now, with $GME, he posts with a large account and a significant near-term option position, appearing more like manipulation without a solid thesis. Considering the stock is now 2,000% higher than his initial video almost 4 years ago.”
These allegations follow Gill’s revelation that his GME position has grown to over $300 million, potentially making him the first GameStop billionaire if prices continue to climb.
Gill shared a screenshot showing he purchased five million GME shares for $115.7 million and invested $65.7 million in call options, betting that GME would reach at least $20 per share by June 21.
Citron Research also suggested that Gill‘s substantial GME position might be financially backed by a larger entity. They wrote:
“We believe someone is backing Gill—there’s no way he made this size trade alone. His reported finances don’t support this trade. Investors will see through this roaring Icarus.”
Summary Review: Keith Gill’s massive GME position has ignited claims of market manipulation from Citron Research. As Gill potentially stands on the brink of becoming a billionaire due to his GameStop investments, the accusations underscore the ongoing controversy and volatility surrounding the stock. Whether Gill‘s actions represent savvy investing or manipulation remains a heated debate, reflecting the broader tensions within the financial markets.
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