In late 2020, a user with the nickname Roaring Kitty strolled into the stock market scene, turned GameStop into a rollercoaster ride, and became a legend.
Yup, that’s Keith Gill for you. After three years of silence, the Reddit $GME guru made a comeback with a post on Twitter (we mean, X, of course), and $GME shot up 500% in the first 24 hours. Looks like the guy still has the magic touch.
Let’s take a brief journey down memory lane and recall how this internet sensation shook up Wall Street with his passion for GameStop and daring investment moves.
Who’s Keith Gill?
In 2014, Keith Gill joined Twitter (now X) using the handle RoaringKitty, where he shared his method for “hunting stocks and pouncing on investment opportunities,” as noted in his Twitter/X bio. He emphasized that his insights were “for educational purposes only.”
Gill then started posting on YouTube in 2015 under the same RoaringKitty alias, where he shared videos and live streams detailing his “daily routine of tracking stocks and performing investment research.”
Finally, in 2019, Gill joined Reddit using the handle DFV (@DeepF*ckingValue), actively participating in discussions within the r/WallStreetBets community.
How it all started
It all began when GameStop, a struggling brick-and-mortar video game retailer, caught the attention of Wall Street as a prime target for short-selling. This caught the eye of Roaring Kitty, who saw potential where others saw decline.
Roaring Kitty, known for his detailed investment research and educational content, took a bullish stance on GameStop, believing the company was undervalued and could turn its fortunes around. He shared his analysis and investment thesis on various platforms like YouTube, Twitter/X, and Reddit, garnering a significant following.
As more retail investors, inspired by Roaring Kitty’s insights, rallied behind GameStop, its stock price soared to unprecedented levels, causing a phenomenon that shook the foundations of traditional Wall Street investing.
GameStop saga
In 2019, Gill invested $53,000 in GameStop stock. As he continued discussing the stock on social media, more everyday traders joined in, causing GameStop’s stock price to skyrocket. The stock hit its peak at $483 per share in January 2021, turning Gill’s initial investment into nearly $48 million.
Gill’s identity became public shortly after GameStop’s surge, revealed by Reuters through public records. In February 2021, Gill appeared before Congress to discuss his part in the GameStop frenzy, arguing that the stock was severely undervalued.
In the following years, Netflix and Sony Pictures each released a docuseries and a movie titled “Eat the Rich: The GameStop Saga” and “Dumb Money”, respectively. Roaring Kitty’s role in this saga became iconic, earning him a place in the history books of finance as a symbol of the power of individual investors.
Is Roaring Kitty back?
And what would his comeback mean? These are the questions buzzing around right now as a Solana memecoin ($GME) created to commemorate the GameStop saga suddenly surged by a whopping 510.9% within just eight hours of Gill’s X post. NYSE even hit pause on the buy button, halting $GME a staggering five times this morning due to wild volatility!
This seems like a fresh episode in the ongoing ‘saga,’ adding another twist to the narrative. It’s fascinating to see how these events will unfold and what the new season of this financial drama will bring.
Stay tuned;)
