Current:Home > InvestRoaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021 -Blueprint Money Mastery
Roaring Kitty is back. What to know about the investor who cashed in on GameStop in 2021
View
Date:2025-04-14 04:10:12
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! (8)
Related
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Traveling? Here Are the Best Life-Saving Travel Accessories You Need To Pack, Starting at Just $7
- Giants trading Jordan Phillips to Cowboys in rare deal between NFC East rivals
- Julianne Hough Shares She Was Sexually Abused at Age 4
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- football player, 14, dies after collapsing during practice in Alabama
- Have you noticed? Starbucks changed its iced coffee blend for the first time in 18 years
- The Notebook Actress Gena Rowlands Dead at 94
- Retirement planning: 3 crucial moves everyone should make before 2025
- Head of Theodore Roosevelt National Park departs North Dakota job
Ranking
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- American Supercar: A first look at the 1,064-HP 2025 Chevrolet Corvette ZR1
- Biden to designate 1908 Springfield race riot site as national monument
- See Travis Kelce Make His Acting Debut in Terrifying Grotesquerie Teaser
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Matthew Judon trade winners, losers and grades: How did Patriots, Falcons fare in deal?
- US unemployment claims fall 7,000 to 227,000 in sign of resiliency in job market
- Matthew Judon trade winners, losers and grades: How did Patriots, Falcons fare in deal?
Recommendation
Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
51 Must-Try Stress Relief & Self-Care Products for National Relaxation Day (& National Wellness Month)
California man accused of slashing teen's throat after sexual assault: Police
Don't be fooled by the name and packaging: Fruit snacks are rarely good for you. Here's why.
The 401(k) millionaires club keeps growing. We'll tell you how to join.
Potentially massive pay package for Starbucks new CEO, and he doesn’t even have to move to Seattle
Jackson City Councilwoman Angelique Lee resigns after federal bribery charge
Judge tells Google to brace for shakeup of Android app store as punishment for running a monopoly