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I saw that Keith Gill, the guy famous for moving GameStop in 2021, had an incredible day in the market. The stock surged about 21% at once, and the guy made a whopping $79 million in a single day. Absolutely insane.
Keith Gill holds 5 million shares of GameStop in his portfolio, plus 120,000 options with a $20 strike price. When the stock closed at $28, just the gains from the shares were $33.6 million, and the options yielded another $54.3 million. If this trend continues and the price stays above $20 when the options expire, he can exercise them and end up with a total of 17 million shares.
To give you an idea of Keith Gill's position size, this would make him the fourth-largest shareholder of GameStop, behind only Vanguard, BlackRock, and RC Ventures. With the stock at $28, his stake is worth around $476 million. This guy really knows how to make a bet pay off.