"Roaring Kitty" trader returns, causing GameStop shares to jump more than 70%
CBSN
GameStop shares jumped more than 72% on Monday after trader Keith Gill, known online as "Roaring Kitty," resurfaced four years after he led an investment frenzy involving the video game retailer.
Gill is a former financial analyst at MassMutual who in late 2020 encouraged amateur retail investors to buy GameStop shares during the meme stock craze. He did this by posting on Reddit discussion boards and creating videos on YouTube about the strategy, gaining a large following in the process. But in 2021, Gill revealed that he had lost $13 million in one day from his investments in GameStop.
Gill was also slapped with a lawsuit in 2021, accusing him of profiting from "deceitful and manipulative conduct" in promoting the GameStop shares. After appearing before Congress to explain the meme stock craze, Gill's social media presence dwindled to nonexistence.
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