"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 fundamentals. Gill did not respond to requests for comment.īut in testimony last year to Congress, he denied the notion that he used social media to profit by promoting GameStop to unwitting investors. The last tweet from his handle, a video of a kitten, was on June 18, 2021.Ī public records search indicates Gill has no new business ventures. His last posts on WallStreetBets via his ‘DeepF**ingValue’ handle and his Roaring Kitty YouTube stream were on April 16, 2021. Gill faded away almost as quickly as he shot to fame. Gill and other traders and financial executives were grilled in the U.S.
The furious rally in GameStop and other "memestocks" burned hedge funds, rocked Wall Street and drew scrutiny from state and federal regulators. With colorful YouTube streams and Reddit posts touting his GameStop positions, Gill made the bull case for GameStop, helping to attract a flood of retail cash into the beleaguered bricks-and-mortar retailer. But it is still at about $112 a share, compared to less than $20 on Jan. The stock, which peaked at $482.95 a share when hedge funds that had shorted GameStop were forced to buy at any price, has come back to earth. Known as "Roaring Kitty" on YouTube and "DeepF***ingValue" on Reddit's popular WallStreetBets forum, Gill was a key figure in the so-called "Reddit rally" which saw shares of GameStop surge 1600% at one point in Jan. But in April, a court dismissed a lawsuit alleging Gill violated securities laws by inciting the rally in GameStop and causing “huge losses” for investors. The Associated Press contributed to this report.The Massachusetts securities regulator is still probing Gill's activities around the Reddit rally, a spokeswoman said.
In a consent order filed with the state, the company neither admits nor denies factual or legal findings brought by regulators. "MassMutual is pleased to put this matter behind us, avoiding the expense and distraction associated with protracted litigation," the company said in a statement.
#Roaring kitty registration#
MassMutual was also hit with a $750,000 fine over the registration of nearly 500 agents, who will need to be registered. MML Investors Services is being fined $4 million, while MassMutual is undergoing an independent compliance review into its social media policies, which Galvin ordered be overhauled, officials said. Gill's registration in Massachusetts remains under investigation, officials said Thursday. If the stock hits or surpasses that target, investors can reap a bigger return than if they simply bought a share. With options, an investor can pay a few dollars for the right to buy a stock at a later date at a certain price. He bought call options and increased his position throughout 20, convinced that the stock price was “dramatically undervalued.” Gill said he analyzed stocks on his own time and got curious about GameStop in June 2019, after it began trading at a deep discount after a poor quarterly earnings report.
#Roaring kitty plus#
Gill reaped a big profit in the troubled video-game company after months talking about GameStop stock on his YouTube channel and on the Reddit forum WallStreetBets, where he went by the pseudonym DFV, for ‘deep value’ plus an expletive. The 34-year-old became the most visible face of the GameStop rally largely because of his videos, where he wore a red headband and colorful, cat-themed T-shirts as he spent hours each week talking about the stock from the basement of his home in Brockton, Massachusetts. He also rejected suggestions that he played a key role in the GameStop frenzy, arguing his social media conversations sharing analysis of company fundamentals were no different than what people do at bars, golf courses or with family members at home. "My investment skills had reached a level where I felt sharing them publicly could help others." The prevailing analysis about GameStop's impending doom was simply wrong," he said in prepared testimony. "I believed the company was dramatically undervalued by the market. House Financial Services Committee hearing on GameStop. In February, a month after regulators said he left the company, Gill testified at a U.S.
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