- Keith Gill, also called RoaringKitty on Twitter and YouTube, is still bullish on GameStop stock, even after its latest volatility.
- That’s in line with ready opening remarks Gill is about to ship to Congress throughout his testimony on Thursday.
- “GameStop’s stock price may have gotten a bit ahead of itself last month, but I’m as bullish as I’ve ever been on a potential turnaround,” Gill stated.
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Keith Gill – in any other case identified on Twitter and YouTube as Roaring Kitty – is about to testify in entrance of Congress on Thursday about the GameStop short-squeeze he helped spark. His opening assertion was launched on Wednesday.
In the ready feedback, Gill says he’s still bullish on GameStop stock, regardless of its epic January rally that resulted in a one-week value surge of 1,022% and subsequent 90% decline.
“GameStop’s stock price may have gotten a bit ahead of itself last month, but I’m as bullish as I’ve ever been on a potential turnaround,” Gill stated.
He first invested $53,000 in GameStop stock and choices in June 2019 and documented his “YOLO” funding in Reddit’s WallStreetBets discussion board.
Gill gained a cult-like following as his place updates on Reddit confirmed his funding swelling in worth in late 2020 and early 2021. At it is peak on January 28, his GameStop place was briefly value $48 million.
On Wednesday, Gill was named in a proposed class motion lawsuit in Massachusetts. The lawsuit alleged that he misrepresented himself as an novice investor when in actuality he was a licensed securities skilled. The go well with additionally alleged that Gill profited from GameStop’s rise by artificially inflating the value of the stock.
But in his ready remarks, Gill makes clear that in his most up-to-date job as MassMutual, he by no means bought securities nor was a monetary advisor, and all of his posts on social media had been totally on his personal.
“I did not solicit anyone to buy or sell the stock for my own profit. I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public,” Gill stated.
He summed up his present ideas on GameStop with a battle-cry that has develop into widespread with 9.1 million members of WallStreetBets: “In short, I like the stock.”
Shares of GameStop traded down 7% on Wednesday, and shares are down roughly 90% from their January 28 intra-day peak of $483.