WASHINGTON, June 7 (Reuters) - Keith Gill, the office
worker who shot to notoriety after his online personas and
bullish bets on GameStop ( GME ) 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 ( GME ) 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 ( GME ) 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 ( GME ) 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 ( GME )," 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.
"TOO LATE TO BUY?"
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 ( GME ).
With exuberant YouTube streams in which Gill frequently wore
a bright red pirate bandana as he made the bull case for
GameStop ( GME ), 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 ( GME ) 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 ( GME ) 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 ( GME ), 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 ( GME )
fundamentals.
Still, on Thursday many of his followers were contemplating
buying more GameStop ( GME ) shares, with one handle George Black asking
the group: "Is it too late to buy?"