Current:Home > MyRoaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021 -TrueNorth Finance Path
Roaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021
View
Date:2025-04-17 12:51:42
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! (61262)
Related
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Open season on holiday shopping: How Walmart, Amazon and others give buyers a head start
- Are Deion Sanders, Colorado poised to make Big 12 title run? Let's see Saturday.
- Louisiana’s Cajun and Creole heritage will be showcased at 50th annual Festivals Acadiens et Creoles
- All That You Wanted to Know About She’s All That
- As schools ban mobile phones, parents seek a 'safe' option for kids
- Stronger Storms Like Helene Are More Likely as the Climate Warms
- Jury selection begins in corruption trial of longest-serving legislative leader in US history
- In ‘Nickel Boys,’ striving for a new way to see
- Their mom survived the hurricane, but the aftermath took her life
Ranking
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- A plane crashes on Catalina Island off Southern California coast
- A plane crashes on Catalina Island off Southern California coast
- October Prime Day 2024 Home Decor Deals Worth Shopping—$11 Holiday Plants & 75% Off Fall and Winter Finds
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Record-Breaking Heat Waves Add to Risks for Western Monarchs
- Turkish Airlines flight makes emergency landing in New York after pilot dies
- AI Ω: Driving Innovation and Redefining Our Way of Life
Recommendation
Tom Holland's New Venture Revealed
This California ballot measure promises money for health care. Its critics warn it could backfire
Stronger Storms Like Helene Are More Likely as the Climate Warms
Riley Keough felt a duty to finish Lisa Marie Presley’s book on Elvis, grief, addiction and love
NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
American Water cyberattack renews focus on protecting critical infrastructure
First and 10: Even Lincoln Riley's famed offense can't bail USC out of mess
Johnny Manziel surprises Diego Pavia; says Vanderbilt's upset of Alabama 'feels like 2012'