Keith Gill, also known by the nickname Roaring Kitty, is a famous investor in the stock market after the short sale of GameStop shares. He is also facing charges related to security fraud.
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Who is Keith Gill?
If you don’t know the name, Keith Gill, he is a famous trading analyst from 2020 to 2021. His popularity comes from posts on Reddit and content through his personal YouTube channel on topics related to stock trading.
According to research, Keith Gill was born on June 8, 1986, in Brockton, Massachusetts, USA in a working-class family. He is the second son in a family of three siblings. Unfortunately, his older sister passed away due to the effects of Covid. This is seen as a catalyst for Gill’s community to develop in the future.
Side information is that Keith Gill attended and graduated from Stonehill University on business, becoming the first person in his family to complete a university degree. Also, after graduating from college, he joined a startup in New Hampshire for 5 years and left to start freelancing.
Some information related to Keith Gill that you can read more: Short Squeeze, SEC
What did Keith Gill do to become famous?
It can be said that the entire career and reputation that Keith Gill currently owns is associated with the company as well as GameStop’s shares. According to research, this is a company on the decline with continuous business losses gradually making it a lucrative prey for hedge funds’ short positions.
Right at the time when GameStop was in such a decline, Keith Gill appeared and used 50.000 USD to buy GME shares of this company. The reason for Keith Gill’s action comes from the fact that he believes that the company’s stock value is lower and does not reflect the true value.
It was also because of Keith Gill’s actions that at that time, a large number of viewers bought GameStop shares like him and created something unprecedented in the price history of GME shares. This action also unintentionally created a hidden war between his community and hedge funds.
Why was Keith Gill accused of securities fraud with GameStop?
The success and reputation of Keith Gill unintentionally caused many large funds to suffer heavy losses, forcing them to sell other stocks they were holding to absorb losses or cut losses from 30% to 50%. A typical example is the Melvin Capital fund, which suffered a loss of up to 3 billion USD from its GME short position.
It was the above success that caused Keith Gill to face securities fraud charges due to posts on X (formerly known as Twitter) from his Roaring Kitty account. Although he was forced to participate in this hearing, the result was that no verdict was given.
On the other hand, Keith Gill’s investment amount has grown greatly. From the initial 50.000 USD, it skyrocketed to 30 million USD in just a short period. Also during this period, specifically in 2021, he announced that he would retire and not be active on social networking sites.
Keith Gill returns
After announcing that he would retire and not be active on social networking sites from 2021 until now on May 13, 2024, page X with the name Roaring Kitty has become active again. This action has stirred up a series of KOLs from the financial and crypto markets.
Also, from the event of Keith Gill’s return, GME stock price increased nearly 100%, along with cat-themed meme coins also skyrocketing up to 23.000%. That is enough to show the reputation and influence of the name Keith Gill or Roaring Kitty.
Although he has made a certain impact with his return, Keith Gill has not yet shared anything related to the financial or crypto markets. On the other hand, the community of people who follow and care about him are looking forward to his next actions.
Conclusion
So we have successfully summarized and shared with you all the information about Keith Gill’s career and influence. Hopefully, this content will be useful to you, and see you again in other content from AZcoin.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
