Current:Home > InvestRoaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021 -WealthPro Academy
Roaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021
View
Date:2025-04-14 00:52:46
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! (4785)
Related
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- Analysis: It’s uncertain if push to ‘Stop Cop City’ got enough valid signers for Atlanta referendum
- Most populous New Mexico county resumes sheriff’s helicopter operations, months after deadly crash
- Turkish referee leaves hospital after attack by club president that halted all matches
- Clay Aiken's son Parker, 15, makes his TV debut, looks like his father's twin
- German government reaches solution on budget crisis triggered by court ruling
- Adam Driver and Wife Joanne Tucker Privately Welcome New Baby
- We Went to the First EV Charging Station Funded by the Federal Infrastructure Law
- Judge says Mexican ex-official tried to bribe inmates in a bid for new US drug trial
- Turkish referee leaves hospital after attack by club president that halted all matches
Ranking
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- US Asians and Pacific Islanders view democracy with concern, AP-NORC/AAPI Data poll shows
- Most populous New Mexico county resumes sheriff’s helicopter operations, months after deadly crash
- Football player Matt Araiza dropped from woman’s rape lawsuit and won’t sue for defamation
- 'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
- Notre Dame football lands Duke transfer Riley Leonard as its 2024 quarterback
- Can a potential employer give minors drug test without parental consent? Ask HR
- How to clean suede shoes at home without ruining them
Recommendation
Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
College football bowl game opt-outs: Who's skipping bowls games to prepare for NFL draft?
Yes, dietary choices can contribute to diabetes risk: What foods to avoid
An abortion ban enacted in 1864 is under review in the Arizona Supreme Court
Olympic women's basketball bracket: Schedule, results, Team USA's path to gold
Are Ye and Ty Dolla $ign releasing their 'Vultures' album? What to know amid controversy
It took 23 years, but a 'Chicken Run' sequel has finally hatched
Are the products in your shopping cart real?