GameStop rises premarket as Gill appears to hold on to stake after Monday rally

Investing.com — Shares in GameStop (NYSE:) rose by more than 3% in premarket trading on Tuesday, as stock influencer Keith Gill appeared to hold on to gains in his stake in the videogame retailer after a sharp rally in the prior session.

GameStop, which was the focal point of a rally in so-called “meme stocks” in 2021, advanced by 21% on Monday. The jump came after Gill, who is known online as “DeepF——-Value” and “Roaring Kitty”, posted a screenshot on social media site Reddit which showed he had made a $116 million bet on the company.

After the closing bell on Monday, Gill posted another screenshot indicating that he held on to his stake of 5 million GameStop shares, or roughly 1.8% of its publicly available stock, and 120,000 call options.

Several media sources have said they have been unable to independently verify the validity of the screenshots. Meanwhile, E-Trade, the investment platform Gill uses, is holding internal talks over whether to ban him from the service due to concerns over market manipulation, the Wall Street Journal reported.