In a stunning move, famed meme stock trader Keith Gill, also known as “Roaring Kitty” and “DeepF——Value,” has seemingly upped his stake in GameStop to a whopping 9 million shares. Gill shared a screenshot of his E-Trade portfolio on Reddit’s Superstonk forum, revealing that he now holds 9.001 million GameStop shares and over $6 million in cash.
The value of Gill’s portfolio skyrocketed to over $268 million on Thursday evening, up from $210 million just a few weeks ago. This news comes as GameStop shares surged more than 14% in regular trading, only to dip 4% in after-hours trading.
Meanwhile, software giant Adobe saw its stock soar over 16% following a stellar second-quarter earnings report that beat Wall Street expectations. Adobe also raised its full-year earnings and revenue guidance, projecting earnings of $18 to $18.20 per share on revenue between $5.33 billion and $5.38 billion.
In other news, Tesla shareholders have reapproved CEO Elon Musk’s controversial $56 billion pay package, although the decision still needs to be finalized in court. Tesla stock traded about 1% higher following the vote, with shares closing nearly 3% higher during the regular session in anticipation of the pay package approval.
Overall, stock futures were relatively unchanged on Thursday, with the S&P 500 hitting another record high and Adobe reporting strong quarterly results. S&P 500 futures dipped 0.1%, Nasdaq 100 futures slipped 0.04%, and Dow Jones Industrial Average futures ticked down 57 points, or 0.1%. Stay tuned for more updates on these market developments.
