Posted on 01/29/2021 10:22:11 AM PST by tlozo
Keith Gill, the Redditor known as “DeepF–kingValue” who led an army of average Joes to drive up the cost of GameStop stocks, is everything you’d expect him to be.
He’s 34, wears an orange samurai-esque headband over his shoulder-length hair, loves cat T-shirts and operates a YouTube channel from a Boston basement behind a desk littered with used cups, assorted tech gear, sports hats and Uno cards.
But in a recent interview with the Wall Street Journal, the man who goes by “Roaring Kitty” on YouTube insisted he’s just a normal guy, albeit a nerdy one who just got extremely wealthy.
“I didn’t expect this,” Gill, a dad of two and the new king of the Reddit page WallStreetBets, told WSJ in an interview published Friday.
“This story is so much bigger than me.”
Gill, who until recently had a day job for a life insurance company, is the force that fueled the GameStop roller coaster that thrust hedge funds billions of dollars into the red and bloated a flailing video game company, destined for Blockbuster infamy, well beyond its actual value.
Gill, now a pseudo-celebrity who’s caught the attention of Congress, the Federal Reserve and likely even the Securities and Exchange Commission, has long been a proponent of unloved stocks. He first invested $53,000 into GameStop in June 2019, when shares were around $5 a share — a move that people at the time called crazy as the video game company grappled with the advent of online streaming...
(Excerpt) Read more at nypost.com ...
A White Supremacist who won life’s lottery - Obami/Xiden/AOC
I’m sure most here will think I’m crazy, but I think the guy is a hero. He has personally taken on the hedge funds, and turned that $50K into multiple tens of millions of dollars. And still... he refuses to sell. He might be stupid, but he’s got guts, and has rallied thousands of people to take on the hedge funds. Good for him!
Seriously. He’s putting a lot more on the line than most conservatives are willing to sacrifice. Seems to me he’s making an effort to direct the future rather than just wait around and see what happens in the future. A rare trait amongst the right.
The true believers think the stock will go above $1000. Some have their sell price set at 5000 a share.
Getting “Melvined” has entered the lexicon.
Exactly. He’s found a new weapon.
This is the financial version of storming the Capitol. Look for the entrenched elites to crack the whip to re-rig the system.
My guess is prosecution of Reddit posters for “manipulation” combined with blaming Russia for disinformation. Then a strategic bankruptcy to yank the stock and then... Restructure and buy on on the cheap.
He’s going to lose all that money. The DOJ will launch a massive investigation and come up with some law or make up a law that he broke.
My condolences to his family for his sudden suicide next week........................
A few years ago I left the best job I ever had in the corporate world because I got tired of the proprieties and the wasted energy of playing by stupid rules that provided absolutely no value to the company or our clients.
I wish this dude all the luck in the world!
White Privilege to be blamed. You can bet on it.
I’m betting at least half of the reddit kiddie noob traders will lose at least half of their initial trading stake. This isn’t going to end well. Buying a dying company at some insane PE ration never does.
or make his life very miserable at the very leas,
why go public with name is beyond me..
The DOJ will launch a massive investigation and come up with some law or make up a law that he broke.
“You bring me the man, I’ll find you the crime.”
Elizabeth Warren, before her some old forgotten Russian guy.
That, and this sounds like a classic pump and dump.
They will have to chop off his head and dissect it—in the name of science!
These institutions have spent decades — even more than a century — constructing a legal and regulatory framework for what became a massive corporate/government fascist behemoth we call “Wall Street.” Just look at the legal bullsh!t a publicly traded must deal with just to stay in business ... earnings reports, SEC filings, audited financial reports, trading disclosures, etc.
And now we see the whole world of equities trading turned upside down by a bunch of speculators and assorted clowns who are buying and selling shares in a company without any regard for a single piece of information about that company’s finances or operations. And they are bankrupting the “smart money” people in the process.
This “Roaring Kitty” dude is like a bum in the bleachers who disguised himself as a professional baseball player, walked out to the pitcher’s mound, and then struck out all 27 batters while pitching a perfect game in the World Series.
This guy made a fortune and millions of useful idiots will get slaughtered. It’s a $15 stock. It’s going the way of Block Buster. During the whole COVID shutdown period they lost money when they should have made a killing. Revenue has been dropping every year for the past 4. Going to some mall store and buying a cartridge is so 1980’s.
This is not about losing or making money. These guys don’t care- it’s about screwing the manipulative hedge fund managers. That is their motivation.
So all these individuals are happily willing to spend thousands and tens of thousands of dollars just to screw some hedge funds? I highly, highly doubt that.
He has $13 million in cash on a $750k investment. He can afford to ride this out.
I like how he used public information to identify an opportunity. He shared his information and what he was going to do. He did not lie to anyone. He did not cheat anyone.
We keep talking about these Millenials and Gen Z “kids” and how they don’t do much. This “kid” used his brain and his understanding of how the world can work, and brought down some giants.
Any fund manager how sold a company short to the point of 140% of their outstanding stock should be flogged in the public square.
Shorting is fine. But it should be transparent so that the trading public can see what is happening.
There need not be any regulation on the people trading from a public forum—that has been happening at investment clubs and coffee shops since there have been stock markets.
Margin rules are being judicially applied for those traders with meager means, and that is cool too.
The market is exciting and fun. But it doesn’t give a {expletive deleted} about YOU or ME. That has always been the case, and it remains the case.
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