Current:Home > MarketsRoaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021 -FinanceAcademy
Roaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021
View
Date:2025-04-12 08:38:32
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! (2173)
Related
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Guinea-Bissau’s president issues a decree dissolving the opposition-controlled parliament
- UK unveils tough new rules designed to cut immigrant numbers
- Florida State beats Stanford for its fourth women’s soccer national championship
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Magnitude 5.1 earthquake felt widely across Big Island of Hawaii; no damage or risk of tsunami
- NFL official injured in Saints vs. Lions game suffered fractured fibula, to have surgery
- Sprawling casino and hotel catering to locals is opening southwest of Las Vegas Strip
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Florida woman charged with sex crimes after posing as student on Snapchat: Tampa Police
Ranking
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Worried about job cuts heading into 2024? Here's how to prepare for layoff season
- Gerry Fraley wins BBWAA Career Excellence Award, top honor for baseball writers
- Woman plans to pay off kids' student loans after winning $25 million Massachusetts lottery prize
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- 22 Unique Holiday Gifts You’d Be Surprised To Find on Amazon, Personalized Presents, and More
- More than $950,000 raised for Palestinian student paralyzed after being shot in Vermont
- Lawmakers in Norway make a deal opening up for deep sea mining in Arctic Ocean
Recommendation
Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
Elon Musk's X platform fueled far-right riots in Ireland, experts say
U.S. Navy removes spy plane from Hawaii reef 2 weeks after it crashed into environmentally sensitive bay
Ford, Jeep, and Jaguar among 79,000 vehicles recalled: Check car recalls here
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
Watch this mom's excitement over a special delivery: her Army son back from overseas
After racist shooting that killed 3, family sues Dollar General and others over lax security
Remains found in Indiana in 1982 identified as those of Wisconsin woman who vanished at age 20