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Who are the Reddit traders? | The Spectator
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Wall Street can seem like a citadel, so it is with unreserved glee that many have kept tabs on the GameStop saga this week. For once, the underdogs were getting flush and even better, seemingly screwing over hedge funds in the process. On WallStreetBets, the Reddit forum where it all began, retail traders are rallying one another to stay aggressive and hold against downward pressure on the stock, whose value was sinking by Thursday afternoon. An I.T. worker in Atlanta who bought in on Monday after reading about GameStop on the forum said he watched the value of his position lose and then regain around $100,000 over the course of 24 hours, and he’s not abandoning his shares anytime soon.
Mr Gill, who had never really played video games besides Super Mario and Donkey Kong, told the
Journal he began investing in GameStop in mid-2019 when shares were about $5. Earlier that year, the retailer was looking for its fifth chief executive in little more than a year but he kept buying. People were doing a quick take, saying GameStop was the next Blockbuster, he said. It appeared many folks just weren’t digging in deeper. It was a gross misclassification of the opportunity.
The 34-year-old used to be a long-distance runner, running a four-minute mile until being sidelined by an injury. The Chartered Financial Analyst told the newspaper that stock-picking became an outlet for the energy he once put into running.
Meet The Man Behind The Massive GameStop Rally
29 Jan 2021
Meet Keith Patrick Gill, the 34-year old Massachusetts financial advisor who set off the Wall Street earthquake around GameStop.
Gill is the man behind the YouTube Channel, Roaring Kitty, where he has frequently pitched viewers on investing in GameStop, according to multiple reports. He is also the man responsible for the a string of posts on r/wallstreet bet under the Reddit username DeepF ingValue, according to reports in the
Daily Mail and the
New York Times.
Yesterday, Gill posted screenshots indicating he had lost $14 million in yesterday’s sell off, which saw GameStop shares fall by 40 percent, but held onto his long position, which is still up by over thirty million dollars compared with his original $53,0000 investment.
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