Current:Home > FinanceRoaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021 -Golden Horizon Investments
Roaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021
View
Date:2025-04-17 16:10:26
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! (8896)
Related
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- USWNT loses to North Korea in semifinals of U-20 Women's World Cup
- Oversight board says it will help speed up projects to fix Puerto Rico’s electric grid
- 'The Golden Bachelorette' cast: Meet the 24 men looking to charm Joan Vassos
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Blue Jackets open camp amid lingering grief over death of Johnny Gaudreau
- Shop Hollister's Extra 20% Off Clearance Sale: Up to 75% Off on $4 Tops, $12 Pants & More Deals Under $25
- Veteran CIA officer who drugged and sexually assaulted dozens of women gets 30 years in prison
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- 4 Albany officers suffer head injuries when 2 police SUVs collide
Ranking
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- Testimony begins in trial for ex-sergeant charged in killing of Virginia shoplifting suspect
- A Trump Debate Comment About German Energy Policy Leaves Germans Perplexed
- Kansas cult leaders forced children to work 16 hours a day: 'Heinous atrocities'
- Senate begins final push to expand Social Security benefits for millions of people
- Baker Mayfield says Bryce Young's story is 'far from finished' following benching
- Milwaukee’s new election chief knows her office is under scrutiny, but she’s ready
- Powerball winning numbers for September 18: Jackpot rises to $176 million
Recommendation
Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
Happy 50th ‘SNL!’ Here’s a look back at the show’s very first cast
See Jamie Lynn Spears' Teen Daughter Maddie Watson All Dressed Up for Homecoming Court
The Latest: Both presidential candidates making appearances to fire up core supporters
'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
Memories of the earliest Tupperware parties, from one who was there
Weekly applications for US jobless benefits fall to the lowest level in 4 months
Milwaukee’s new election chief knows her office is under scrutiny, but she’s ready