"Roaring Kitty" is back in the spotlight after suddenly becoming active again on social media. Here's what you need to know about the famous meme stock retail trader.
"Roaring Kitty" is back in the spotlight after suddenly becoming active again on social media.
The famous meme stock retail trader, widely identified as Keith Gill, broke his "Roaring Kitty" X account’s roughly three-year streak of dormancy on Sunday night with a picture depicting a seated video game player leaning forward. Prior to that, his most recent post on X was from June 2021.
Sunday’s post and the numerous subsequent video clips that he flooded his timeline with Monday were followed by GameStop and other so-called "meme stocks" posting massive jumps in their stock prices.
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While giving testimony to Congress three years ago, the retail trader offered some details about himself, including that he was raised in Massachusetts and the first in his family to obtain a bachelor’s degree.
Media outlets first tied Gill to the "Roaring Kitty" accounts on X and YouTube, as well as the username "DeepF*ckingValue" on Reddit, in early 2021 amid the Reddit day trader-driven short squeeze of GameStop.
The price of GameStop stock saw a massive increase in late January 2021, hitting $483 at one point during Jan. 28 trading. That occurred after retail and Reddit traders went against short-sellers and hedge funds, as FOX Business previously reported. Other companies whose shares are now considered "meme stocks" also experienced surges.
Gill is linked to that 2021 meme stock frenzy through the favorable opinions about GameStop and the updates on his investment in the video game retailer that he posted on his social media accounts.
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His involvement was recently depicted in the movie "Dumb Money" directed by Craig Gillespie and based on the book "The Antisocial Network" by author Ben Mezrich. The filmmakers cast Paul Dano as Gill.
During his testimony to the U.S. House Committee on Financial Services in February 2021, Gill said his "investment in GameStop and my posts on social media were entirely my own" derived solely from publicly available information.
He learned about investing overall from jobs he held and time he spent analyzing stocks outside of work, according to his testimony.
"The idea that I used social media to promote GameStop stock to unwitting investors is preposterous," he testified at the time. "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 checking out the channel."
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He said he was driven to put money in GameStop by a belief that the retailer was "dramatically undervalued."
Breck Dumas contributed to this report.
