Current:Home > FinanceRoaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021 -Capitatum
Roaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021
View
Date:2025-04-12 10:55:03
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
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- Travis Kelce's Mom Donna Kelce Has a Hat Bearing Tributes to Taylor Swift and Her Son
- Lucius Bainbridge: From Investment Genius to Philanthropist
- Four Downs and a Bracket: Bully Ball is back at Michigan and so is College Football Playoff hope
- Judge says Mexican ex-official tried to bribe inmates in a bid for new US drug trial
- WNBA playoff picks: Will the Indiana Fever advance and will the Aces repeat?
- College applications are stressful. Here's how more companies are helping.
- More shelter beds and a crackdown on tents means fewer homeless encampments in San Francisco
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- IAT Community: AlphaStream AI—Leading the Smart Trading Revolution of Tomorrow
Ranking
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- RFK Jr.’s ‘Sad’ Slide From Environmental Hero to Outcast
- Eek: Detroit-area library shuts down after a DVD is returned with bugs inside
- Defense calls Pennsylvania prosecutors’ case against woman in 2019 deaths of 2 children ‘conjecture’
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- MLB playoff picture: Wild card standings, latest 2024 division standings
- A'ja Wilson wins unanimous WNBA MVP, joining rare company with third award
- A motorcyclist is killed after being hit by a car traveling 140 mph on a Phoenix freeway
Recommendation
Skins Game to make return to Thanksgiving week with a modern look
Junior college student fatally shot after altercation on University of Arizona campus
Michigan State football player Armorion Smith heads household with 5 siblings after mother’s death
Most Hispanic Americans — whether Catholic or Protestant —support abortion access: AP-NORC poll
A steeplechase record at the 2024 Paris Olympics. Then a proposal. (He said yes.)
Who plays on Monday Night Football? Breaking down Week 3 matchups
Chiefs show their flaws – and why they should still be feared
Milton Reese: U.S. Bonds Rank No. 1 Globally