Current:Home > reviewsRoaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021 -RiskWatch
Roaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021
View
Date:2025-04-17 17:53:09
Roaring Kitty, a trader and YouTuber with a cult-like following has returned, causing GameStop's stock to jump 50% on Monday.
Roaring Kitty, real name Keith Patrick Gill, gained prominence in January 2021 when he set off a surge in GameStop's stock, Reuters reported. At one point, on January 28, 2021, shares reached over $500 in pre-market trading before dropping to $483 during trading hours, according to The Street.
Gill, 37, is now back after taking a years-long hiatus. He seemingly confirmed his return Sunday on X by posting a photo of a man intensely playing a video game.
Gill continued to garner support and adulation from fans on Monday as he posted clips from movies on his X account, including footage of Thanos grabbing the Infinity Gauntlet from Marvel Studios' "Avengers: Infinity War."
Gill's comeback has already caused commotion, but here's more information on who Roaring Kitty is.
Who is Roaring Kitty?
Keith Gill became popular after creating Roaring Kitty on YouTube and "DeepF***ingValue" on Reddit, according to Reuters.
Gill is from Brockton, Massachusetts, and a former track and field star at his high school, according to Investopedia and The Wall Street Journal. Before becoming Roaring Kitty, he worked at a subsidiary of MassMutual as the director of education and wellness, the WSJ said.
Gill joined X, formerly known as Twitter, in 2014 under the name @TheRoaringKitty, Investopedia said.
The 2023 film "Dumb Money" chronicles Gill's time as Roaring Kitty and shows how his efforts affected Wall Street. Actor Paul Dano plays Gill in the film.
How did Keith Gill influence people to buy GameStop?
Gill's never-give-up personality, which the movie "Dumb Money" depicts, helped him influence people to buy and hold GameStop during the short squeeze in January 2021.
A short squeeze occurs when "the price of a stock moves sharply higher, prompting traders who bet its price would fall to buy it to avoid greater losses," by closing out their bets, according to Investopedia. That rush to buy, however, results in more demand and a higher price for the stock. Speculators and traders who have short positions in a stock will face heavy losses, while people who bet the stock would rise will benefit.
What happened to Keith Gill after the GameStop surge?
On January 28, 2021, the same day GameStop's shares reached over $500, stock trading company Robinhood froze trades for GameStop, according to CNET.
Robinhood's decision led to the company receiving backlash from small investors, and Gill being ordered to testify before the U.S. Congress alongside U.S. hedge fund managers, Reuters reported.
GameStop's stock continued to decline month after month, leaving those who invested either thankful they cashed out early or angry they held and ended up with nothing.
It is unclear how much Gill made off of GameStop during the short squeeze, but Business Insider reported that his stock holdings in the game company were valued at $48 million at the height of the surge. He initially invested $53,000 into GameStop in 2019, according to the outlet.
veryGood! (3796)
Related
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- New York City air becomes some of the worst in the world as Canada wildfire smoke blows in
- Today’s Climate: June 25, 2010
- Fracking the Everglades? Many Floridians Recoil as House Approves Bill
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- Dolphins QB Tua Tagovailoa's injury sparks concern over the NFL's concussion policies
- 2 shot at Maryland cemetery during funeral of 10-year-old murder victim
- U.S. Military Not Doing Enough to Prepare Bases for Climate Change, GAO Warns
- The Best Stocking Stuffers Under $25
- Why were the sun and moon red Tuesday? Wildfire smoke — here's how it recolors the skies
Ranking
- Intellectuals vs. The Internet
- Two men dead after small plane crashes in western New York
- How Dannielynn Birkhead Honored Mom Anna Nicole Smith With 2023 Kentucky Derby Style
- Human Rights Campaign declares state of emergency for LGBTQ+ Americans
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- The heartbreak and cost of losing a baby in America
- With Order to Keep Gas in Leaking Facility, Regulators Anger Porter Ranch Residents
- 2017 One of Hottest Years on Record, and Without El Niño
Recommendation
San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
White woman who fatally shot Black neighbor through front door arrested on manslaughter and other charges
Why your bad boss will probably lose the remote-work wars
Today’s Climate: June 25, 2010
South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
HIV crashed her life. She found her way back to joy — and spoke at the U.N. this week
Florida nursing homes evacuated 1000s before Ian hit. Some weathered the storm
2 teens who dated in the 1950s lost touch. They reignited their romance 63 years later.