Roaring kitty
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The SEC, which oversees the stock market, said this week it is monitoring the market volatility but did not immediately respond to a request for comment regarding Gill on Thursday evening.Īfter online brokerages restricted trading in GME on Thursday, Gill posted that he had lost $14.8 million that day alone, but was still up $33 million overall. "There's absolutely nothing wrong to tell others to buy a stock if it's honest and in good faith." "If he is what he says he is, he's not breaking the law," said Scott Silver, a securities lawyer and managing partner of Silver Law Group. Some said that if Gill simply invested in and advocated for his position because he believed in the company, that he had nothing to fear. "Ultimately the issue is going to be whether people were putting out materially false or misleading information for the purpose of inducing others to buy stock," said Jacob Frenkel, Securities Enforcement Practice Chair for law firm Dickinson Wright and a former SEC enforcement attorney. But they stressed that it is not clear whether he had done anything wrong. ii Oh and in case you were wondering, yes, most of the questions were tangent-filled speeches, and there was a disagreement among congresspeople over whether the whole hearing was political theater. Some lawyers have said the unusual role Gill and other Reddit users played in talking up GME could draw regulatory scrutiny. When Roaring Kitty was addressed, it was mostly to congratulate him in turning 53,000 invested in GameStop into 48 million. Your example literally changed the lives of thousands of ordinary normal people," wrote one user on Wednesday. c/RoaringKitty Joined November 2014 97 Following 499. Live streams on Mon/Wed/Fri from 7-10pm ET.
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"Your steady hand convinced many of us to not only buy, but hold. Roaring Kitty (TheRoaringKitty) / Twitter Roaring Kitty TheRoaringKitty A method for hunting stocks and pouncing on investment opportunities. Fever pitchĪs trading in the shares reached a fever pitch this week, his portfolio updates appeared to encourage other investors to stay in the stock. Reuters could not independently verify his profits.
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In YouTube videos, he expanded upon his investment thesis, arguing the company was undervalued, and was well-positioned to rapidly grow its fledgling online business.īy Wednesday, Gill was up over 4000% on stock and options investments in the company, with his GME position plus cash worth nearly $48 million, according to his Reddit posts. He began sharing his bets with the group in September 2019, posting a portfolio screenshot indicating he had invested $53,000 in the company and had already netted a $46,000 profit. Through frequent posts on Reddit's WallStreetBets thread, Gill became the Pied Piper of GameStop, sharing screenshots of his portfolio which appeared to inspire thousands of amateur retail investors to follow him into the ailing retailer too. The company has so far not commented on the episode.Ī married father, according to his YouTube videos, Gill is a Chartered Financial Analyst who had until recently created content for "In Good Company," an initiative by MassMutual to "explore different ways to make financial education more accessible," its website says. So my brother is kinda famous now."Ĭalls and an email to GameStop late Thursday were not answered. The broker-dealer arm of MassMutual on Friday filed a termination notice for Gill with FINRA and said an internal review of his "outside activities" was ongoing.On Thursday evening, Kevin Gill - Gill's brother according to an online school profile and public records - appeared to verify that Roaring Kitty and DeepF***ingValue are one and the same, pointing to the Daily Mail story in a Facebook post and adding: "Um yeah. He left MassMutual in late January and is no longer a broker registered with the Financial Industry Regulatory Authority. Galvin's office said that MassMutual has told regulators it was unaware of Gill's outside activities. While trading in GameStop, Gill worked at MassMutual in a marketing and financial education job and was a registered financial broker in Massachusetts. 18 that he remained "as bullish as I've ever been on a potential turnaround for GameStop."
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House Committee on Financial Services on Feb. Gill, 34, began sharing his positions on Reddit's popular Wallstreetbets trading forum in September 2019, posting a portfolio screenshot indicating he had invested $53,000 in GameStop.īy late January, Gill, known as "Roaring Kitty" on YouTube and "DeepF***ingValue" on Reddit, was up over 4,000% on stock and options investments in the company, with his GameStop position plus cash worth nearly $48 million, according to his Reddit posts. William Taylor, Gill's attorney at Zuckerman Spaeder, declined to comment.