Who is Keith Gill, the online influencer sending GameStop shares soaring again?
Keith
Gill, the office worker who shot to notoriety after his online personas and
bullish bets on GameStop sparked a retail trading frenzy, appears to be
re-emerging from obscurity.
Known
as "Roaring Kitty" on YouTube and "DeepF***ingValue" on
Reddit's popular WallStreetBets, Gill was a key figure in the so-called
"Reddit rally" in which shares of GameStop surged 1600% at one point
in Jan. 2021, crushing hedge funds that had bet against the videogame retailer.
But
after drawing congressional and regulatory scrutiny for his role in the
extraordinary saga, Gill quickly disappeared, albeit much richer thanks to his
GameStop investment which at one point reached $48 million in value.
For
three years, Gill's accounts on YouTube, X, and Reddit lay dormant. He did no
media interviews and when film-makers came knocking he declined to participate
in their projects.
Then
out of the blue Gill appeared in recent weeks to resurface online, sending
GameStop's shares soaring once again.
On
Monday, they rose 21% after Gill’s Reddit
account posted a screenshot showing a $116 million bet on the stock. On
Thursday, they surged almost 50% after Gill's YouTube account scheduled a
livestream for 12 p.m. ET (1600 GMT) on Friday.
The
post, featuring Gill's trademark cat, sparked a deluge of excited messages from
his followers, many of whom have likened the social media phenomenon to a David
who took on Wall Street's Goliaths and won.
"I
will watch this screen without blinking all night," a user with the handle
Clay DeNicola posted on Gill's YouTube channel on Thursday.
Gill
has not responded to multiple attempts by Reuters to contact him.
Born
in 1986 to a truck driver and nurse, Gill grew up in Brockton, Massachusetts.
"I grew up playing videogames and shopping at GameStop," he told
lawmakers during a 2021 hearing.
He
graduated from Stonehill College in 2009 and between 2010 and 2014 worked at a
start-up where he tried to build software to help investors analyze shares,
according to his testimony.
"My
salary never exceeded $40,000, but I did learn something about investing. I
learned how to do the tedious work of digging through a company's financials
and focusing on its real long-term value," he said.
While
unemployed in 2017 Gill, a husband and father, began analyzing stocks and
investing his savings, an interest he "pursued passionately" even
after taking on a marketing and financial education job at MassMutual in April
2019.
When
in early June GameStop's shares fell on worse-than-expected earnings, Gill
spied an opportunity. Believing the stock was trading below its fair value, he
bought GME options and from there continued to add to his position, he said.
Gill
began sharing his positions on WallStreetBets in September 2019, posting a
screenshot indicating he had invested $53,000 in GameStop.
With
exuberant YouTube streams in which Gill frequently wore a bright red pirate
bandana as he made the bull case for GameStop, and Reddit posts touting his
positions, Gill helped to attract a flood of retail cash into the beleaguered
bricks-and-mortar retailer.
By
late Jan. 2021, Gill was up over 4,000% on stock and options in the company,
with his GameStop position plus cash worth nearly $48 million, according to his
posts.
In
an April 16, 2021 WallStreetBets post, which would be his last for three years,
Gill shared screen shots showing he had exercised call options on GameStop to
acquire 50,000 more shares in the retailer, sparking thousands of comments
lauding the punchy move.
Now
that Gill is back in the limelight, he is also back in the crosshairs. The
Massachusetts securities regulator, which had opened and closed a probe into
Gill, has said it is again reviewing his
activities. The Securities and Exchange Commission is also reviewing his
trades, the Wall Street Journal reported.
The
agency has declined to comment.
Some
have accused Gill of causing huge losses for investors who followed him into
GameStop, a claim he has long denied.
"I
was abundantly clear that my channel was for educational purposes only, and
that my aggressive style of investing was unlikely to be suitable for most
folks," he told lawmakers, adding his investment thesis focused purely on
GameStop's fundamentals.
Still,
on Thursday many of his followers were contemplating buying more GameStop
shares, with one handle George Black asking the group: "Is it too late to
buy?"
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