‘Roaring Kitty’: What to know about the meme stock investor
GAMESTOP SHARES SOAR AFTER ‘ROARING KITTY’ POSTS ON X
‘Roaring Kitty’s YouTube Live Stream
Gill hosted his widely anticipated livestream on June 7th. He was jovial while talking about GameStop and reiterating his belief that the management team have the chops to turnaround the company.
He posited that now that GameStop had entered what he believed to be a “transformation stage,” it “becomes a bet on the management” particularly on CEO Ryan Cohen “and his crew.”
“That’s probably going to be an ongoing debate as to how people feel about him, whether he can successfully transform that business,” Gill told viewers. “I feel like I see enough where I believe this guy might, he might be able to do it right. That’s not a guarantee.”
He also showed viewers that he was still invested in GameStop three years later, at one point in the livestream pulling up what appeared to be his brokerage account.
At the same time, he emphasized that none of what he said was advice and to not “follow anyone blindly.”
Keith Gill, a Reddit user credited with inspiring GameStop’s rally, during a YouTube livestream arranged on a laptop at the New York Stock Exchange in New York Friday, June 7, 2024. (Michael Nagle/Bloomberg via Getty Images / Getty Images)
GameStop Shares
The price of GameStop stock saw a massive increase in late January 2021, hitting $483 at one point during January 28 trading. That occurred after retail and Reddit traders went against short-sellers and hedge funds, as FOX Business previously reported.
Shares closed at $28.22 on June 7, 2024.
Potential Legal Issues?
The Massachusetts Securities Division confirmed to FOX Business’ Kelly O’Grady this week, that they are investigating Keith Gill’s trading activities (Roaring Kitty). This follows his purchase of GameStop call options prior to posting on social media, which likely spurred the run-up in the stock price.
The Securities and Exchange Commission did not respond to FOX Business’ request for comment. It’s unclear if Gill’s posts are tied to any market manipulation.
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Hollywood Takes Notice
His involvement was recently depicted in the movie “Dumb Money” directed by Craig Gillespie and based on the book “The Antisocial Network” by author Ben Mezrich. The filmmakers cast Paul Dano as Gill.
During his testimony to the U.S. House Committee on Financial Services in February 2021, Gill said his “investment in GameStop and my posts on social media were entirely my own” derived solely from publicly available information.
Gill said he had been driven to put money in GameStop by a belief that the retailer was “dramatically undervalued.” (Shelby Knowles/Bloomberg/File / Getty Images)
Potential Legal Issues?
The Massachusetts Securities Division confirmed to FOX Business’ Kelly O’Grady this week, that they are investigating Keith Gill’s trading activities (Roaring Kitty). This follows his purchase of GameStop call options prior to posting on social media, which likely spurred the run-up in the stock price.
The Securities and Exchange Commission did not respond to FOX Business’ request for comment. It’s unclear if Gill’s posts are tied to any market manipulation.
REDDIT’S GAMESTOP SHORT SQUEEZE BECOMES ‘DUMB MONEY’ MOVIE
Breck Dumas and Eric Revell contributed to this report.
