Starting with the excitement, "Cheers everybody!", Who would have thought that this Reddit user and GameStop (GME) stock investor had to face a loss of up to $ 13 million following his bet last month.
Keith Gill, one of the investors who caused GME shares to soar to the attention of the entire market including the United States (US) administration.
This tragic story begins when Gill highlights GameStop, using the video platform, Youtube to attract his followers by telling how 100% short interest can bring profit.
On the Reddit forum site (r / wallstreetbets), Gill 'posted' some screenshots of his profits in GME investments for more than a year under a record called "GME YOLO update".
By the end of 2020, Gill owned 10,000 GME shares and added another by early 2021, bringing the total to 50,000 shares including 500 call options.
When GME shares rocketed over 2000% last week, Gill managed to make a profit of $ 33 million!
However, the video game retail share began to decline 60% on Tuesday, especially after the Robinhood restriction and 70% since last Friday. This caused Gill to lose more than $ 5 million on Monday alone, before increasing to $ 13.6 million on Tuesday.
Convinced of the future of GameStop shares, the 34-year-old decided not to sell the shares.
Gill also did not comment when contacted by the media.
