Current:Home > MarketsRoaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021-LoTradeCoin
Roaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021
View Date:2025-01-11 08:05:40
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! (3)
Related
- Vermont man is fit to stand trial over shooting of 3 Palestinian college students
- Taylor Swift, Miley Cyrus and SZA are poised to win big at the Grammys. But will they?
- Teen falls to his death while taking photos at Utah canyon overlook
- After Washington state lawsuit, Providence health system erases or refunds $158M in medical bills
- Nicole Kidman Reveals the Surprising Reason for Starring in NSFW Movie Babygirl
- Harvard megadonor Ken Griffin pulls support from school, calls students 'whiny snowflakes'
- Taylor Swift is the greatest ad for the Super Bowl in NFL history
- Watch: Pipeline explosion shoots flames 500 feet high, reportedly seen in three states
- Wall Street makes wagers on the likely winners and losers in a second Trump term
- A Tennessee teen has pleaded guilty in the slaying of a prominent United Methodist Church leader
Ranking
- Five best fits for Alex Bregman: Will Astros homegrown star leave as free agent?
- Score a $598 Tory Burch Dress for $60, a $248 Top for $25, and More Can't-Miss Deals
- The Senate is headed for a crucial test vote on new border policies and Ukraine aid
- Prison gang leader in Mississippi gets 20 years for racketeering conspiracy
- Taylor Swift Becomes Auntie Tay In Sweet Photo With Fellow Chiefs WAG Chariah Gordon's Daughter
- Group of Kentucky educators won $1 million Powerball, hid ticket in math book
- A year after Ohio train derailment, families may have nowhere safe to go
- 'Black joy is contagious': Happiness for Black Americans is abundant, but disparities persist
Recommendation
-
Climate Advocacy Groups Say They’re Ready for Trump 2.0
-
Who freed Flaco? One year later, eagle-owl’s escape from Central Park Zoo remains a mystery
-
Camila Cabello Looks Unrecognizable With New Blonde Hair Transformation
-
IRS gives Minnesota a final ‘no’ on exempting state tax rebates from federal taxes
-
Wreck of Navy destroyer USS Edsall known as 'the dancing mouse' found 80 years after sinking
-
Ex-Alabama baseball coach Brad Bohannon gets 15-year, show-cause penalty after gambling scandal
-
After Washington state lawsuit, Providence health system erases or refunds $158M in medical bills
-
Fun. Friendship. International closeness. NFL's flag football championships come to USA.