“DeepF—ingValue” went deep in the red.
The Reddit user who helped spark the explosive rally in GameStop’s stock price said he lost more than $13 million in a single day as the shares crashed.
Keith Gill — the Massachusetts man better known as DeepF—ing Value on Reddit and “Roaring Kitty” on YouTube — revealed the loss on Reddit’s WallStreetBets forum, where he’s been sharing regular updates on his GameStop investment.
Gill has 50,000 shares in the video-game retailer along with 500 call options. The value of his stake dropped by $13.6 million on Tuesday as GameStop’s share price tumbled 60 percent, adding to a roughly $5.2 million loss on Monday, according to screenshots of his brokerage account that he posted on Reddit.
Even with those losses, Gill says he’s racked up a $7.6 million gain on his GameStop bet, which reportedly started with a $53,000 investment in June 2019. He doesn’t appear to have sold any shares or options since the stock sank this week.
Gill has become an internet celebrity since his fellow WallStreetBets users carried out one of the biggest short squeezes ever, driving GameStop’s share price as high as $483 last week.
He outlined how heavily Wall Street investors had bet against GameStop in a video last year on YouTube, where he has 334,000 subscribers, according to CNBC. The thesis helped spark an online revolution that’s upended financial markets and caught the attention of regulators.
“I didn’t expect this,” Gill, 34, told The Wall Street Journal in an interview published last week. “This story is so much bigger than me.”
Gill did not immediately respond to a message sent to his Reddit account Wednesday morning.