In the realm of financial influencers, few names have made as big a splash as Keith Gill, also known as Roaring Kitty. After a three-year hiatus, Gill made a triumphant return to YouTube livestream on Friday, making waves in the process.
Gill’s Bone to Pick with E-Trade
During his livestream, Gill took on his brokerage firm, E-Trade, which had earlier reportedly considered banning him from trading. His crime? Revealing positions worth hundreds of millions of dollars in the meme stock Gamestop.
“I’ve seen those headlines,” Gill joked, pulling up a webpage showing his portfolio and deleting the E-Trade logo using his browser’s developer tools. “Don’t make me remove it.”
Gill’s Return Fuels Speculation
Gill’s near hour-long stream came weeks after his account posted a GameStop-related meme. This stirred speculation about whether the famous internet figure had truly returned after years of speculation, subsequently causing a rally in GameStop prices.
Questions about Gill’s activities were put to rest on Sunday when he posted his positions using his trademark Reddit account, DeepFuckingValue. He revealed that he was holding positions in GameStop shares and call options that, at their peak, had him worth over half a billion dollars.
Roaring Kitty: Back in Business
On Friday, hundreds of thousands of people piled into the stream, eagerly waiting for Gill’s return. After a 20-minute wait, a sizzle reel of cat clips aired, followed by a long scroll of financial disclosure text. Roaring Kitty was back.
Despite the decline of internet culture around meme stocks since the pandemic, Gill’s return has breathed new life into social media platforms like Discord, Reddit, and YouTube. Here, amateur investors trade memes and financial advice, often with the spirit of sticking it to institutional traders like large hedge funds.
Gill and GameStop
During Friday’s livestream, Gill affirmed that he was not partnering with anybody on his massive position, including GameStop or hedge funds.
“This is me, I’m the one active on my accounts,” Gill declared.
Despite his ongoing support for GameStop due to his belief in its CEO Ryan Cohen, interest seemed to wane among his audience. The stock actually slumped despite halting in trading because of volatility, partly impacted by the company’s early reporting of its quarterly results on Friday.
However, Gill still has reason to rejoice. His call options have a strike price of $20, making him still “in the money.”
Keep Up with the Trends
To keep up to date with the trends, issues, and executives shaping corporate finance, consider subscribing to the CFO Daily newsletter. Sign up for free and join the informed readership of north Florida.
