The ongoing tug of war between retail investors and hedge funds over GameStop stock has seen many highs and lows, with the latter resulting in a massive loss for one of the early investors in the short-sold market.
Keith Gill, better known as DFV on Reddit, has lost $13 million after GameStop’s stock plummeted throughout the week, settling in at just $100 per share at the time of writing. Gill, who is widely credited with noticing the massive short sells on GameStop stock and instigating the short squeeze that took place this month, hasn’t sold any of his shares and is still holding for more profits in the future.
Gill reportedly owns 50,000 shares in GameStop, with over 500 open call positions in the company. This had led to a valuation of over $33 million earlier in January, according to multiple posts on Reddit. This was at the current height of the squeeze, where GameStop stock soared past $400 before coming down in the days and weeks after.