Keith Gill, a social media person known as the “Roaring Kitty” whose online posts helped spark a January trading frenzy in Gametop shares, appeared before the Massachusetts Securities Regulator on Wednesday to discuss his activities To be a part of the examination.
Massachusetts Secretary of the Commonwealth William Galvin, the state’s top securities regulator, last month subpoenaed Gill, who in his spare time shelved GameStop’s stock while he was a registered broker and working at insurer MassMutual.
He was a key figure in the so-called “Reddit Rally”, which saw a 400 percent rise in Gametop shares in a week before crashing back to pre-surge levels. A Galvin spokesman said Gill was virtually testifying in response to Uppena.
Gill’s attorney at William Taylor, Zuckerman Spaeder, declined to comment.
Gill, 34, began sharing his position on Reddit’s popular WallStreetBets trading forum in September 2019, posting a portfolio screenshot indicating he had invested $ 53,000 in Gametop.
By the end of January, Gill, known as “Roaring Kitty” on YouTube and “DeepF *** ingValue” on Reddit, had more than 4,000 percent on stock and option investments in the company, with his gametop status and cash nearly 48 million, according to its Reddit posts.
On February 18, Gill testified at the House Committee on Financial Services that he “already lived on a possible change for Gametop”.
Trading at GameStop, Gill worked in a marketing and financial education job at Mass-Mutual and was a registered financial broker in Massachusetts.
Galvin’s office said MassMutual has told regulators that it was unaware of Gill’s outdoor activities. He left MassMutual in late January and is no longer a registered broker in the Financial Industry Regulatory Authority.
MassMutual’s broker-dealer Arm on Friday filed a termination notice for Gill with FINRA and said an internal review of his “outdoor activities” was ongoing.
Leave a Reply