Strongly recommended that everyone watch the movie “Dumb Money”. The movie deeply tells the legendary story of how “Roaring Kitty” led retail investors to short squeeze Wall Street in the battle of GME (GameStop).
Roaring Kitty, whose real name is Keith Gill, was born in Brockton, the United States in 1986. During his college years, he was a track and field star. He insisted on running every day, which not only shaped his body but also tempered his will and became an important source for him to adhere to his self-belief in the investment field. In the investment case of GME (GameStop), Roaring Kitty turned an investment of $53,000 into $48 million. His story has inspired countless retail investors. In their hearts, Roaring Kitty has become a legendary figure in the investment world. And after three years, he has recently made a comeback.
In 2019, by betting on GME, he became an investment idol and CT gigachad.
- In 2014, Keith Gill set up the slogan “Find stocks and seize investment opportunities” and created his own Twitter account.
- In 2015, he entered the YouTube platform and regularly held live classrooms on the concept of value investment. The concept is a display of trading and market research, and it is also educating the vast number of investors with practical actions.
- In 2019, under the username DFV (DeepFuckingValue), he posted on the stock forum WallStreetBets on Reddit, sharing his research and constantly updating his holdings of GME. This also deepened people’s understanding of his investment views. In the same year, Keith Gill demonstrated his investment acumen by heavily investing in GME. Not only did he gain the reputation of CT gigachad in the cryptocurrency world as a result.
- In 2021, he also created memeszn and became a leader in meme stocks. This trend not only covers GME but also spreads to other stocks such as AMC, BB, and NOK. Companies such as AMC Entertainment, BlackBerry, and Nokia have also been included in the meme stock trend. Keith Gill’s actions have deeply influenced the entire investment community and made him an investment hero in the hearts of many people.
What kind of company is GameStop (GME)?
GameStop (GME), established in 1996, is the world’s largest physical game retail giant. The company mainly deals in new and used game console hardware, game software, accessories, PC entertainment software, second-hand mobile phones, consumer electronics and other commodities. Facing the impact of the epidemic and the rise of digital game downloads, many short-selling hedge funds are pessimistic about the future of the physical offline game industry and have begun to short it on a large scale. However, unexpectedly, Keith Gill, known as “Roaring Kitty”, almost single-handedly overturned the situation of many short-selling institutions.
The miraculous rebound of GME can be reviewed as follows: During the epidemic in 2020, the average stock price of GME was only $2.5. But by January 28, 2021, its stock price surged to a maximum of $483, an increase of up to 190 times. This feat is not only the result of “Roaring Kitty” and a large number of retail investors under pressure during the epidemic uniting through communities, but also marks the awakening of retail investors in the capital market.
In this battle, many hedge funds that bet on shorting suffered huge losses. In particular, Melvin Capital suffered a loss of up to $5.05 billion in this historic reversal and finally filed for bankruptcy.
Reproduction Notes：InvestFancy » Roaring Kitty and Gamestop