“IF HE’S STILL IN, I’M STILL IN,” over 100 different followers responded in quick succession. Gill then posted another picture on Reddit showing he had stayed firm - and had lost $15 million. On Thursday, several online brokerages shut down trading in GameStop, causing the company’s price to plunge by almost two-thirds before steadying. Gill, in a red bandanna and sunglasses, said he would be stepping away “for a bit.” That day, he livestreamed for seven hours while watching a chart of GameStop’s surging stock, laughing and calling out to longtime comrades in the comments. Late last week, 190,000 viewers tuned in to the Roaring Kitty YouTube channel, which now has more than 74,000 subscribers, as Mr. “Daddy’s still in!” said a Reddit user named freehouse_throwaway. 13, some of the 44,200 people who looked at the post said his decision not to cash out even a penny of GameStop kept them going. Gill showed another picture of his investment on Jan. That caused the company’s stock to rise, enriching Mr. Gill wore a pink party hat and sunglasses and sipped what appeared to be champagne.Įarlier this month, Mr. Gill’s wife made a cameo on YouTube when her hand appeared on a livestream to clink glasses with him to celebrate GameStop’s stock reaching $20. “The speculation is a rush, plus fighting the man.” A common enemy, so to speak,” said Rod Alzmann, 31, a corporate strategist in Florida who has bet on GameStop for even longer than Mr. Gill’s crew also discovered that hedge funds such as Point72 and Citron Capital were betting that GameStop’s price would fall, in a maneuver known as short-selling. Gill’s investment hit $1 million, according to pictures he posted of his portfolio. Last August, Ryan Cohen, the founder of the pet food site, announced that he had taken a big stake in GameStop. “What went from a great few hours of stock analysis turned into a few hours of just spreading positivity,” he said. Gill and others online was not just about money. In the comments, he explained that Wall Street did not appreciate how much GameStop would benefit as new video game consoles were released. Gill’s first posts on WallStreetBets showed the screenshot of his E-Trade portfolio with the options trades he had made on GameStop, all of them betting the stock would go up. On YouTube, TikTok and Twitter, he went by Roaring Kitty. The middle letter of the initials of his Reddit username, DFV, refers to an expletive. Like many other Reddit users, he showed familiarity with memes and internet expressions like YOLO (you only live once) and exhibited a love for profanity. In August 2019, he began posting on Reddit. After graduating, he worked as a chartered financial analyst and a financial wellness educator, a recently deleted LinkedIn profile showed. Before that, he was an All American runner in college who could cover a mile in 4 minutes 3 seconds, according to local newspapers. Gill’s life as Roaring Kitty began in 2014 when he started a limited liability company with that name. “I’m proud,” she said, before hanging up. Gill’s mother, Elaine, confirmed in a brief phone call that her son was Roaring Kitty. His online accounts and email addresses were tied to his old office in New Hampshire and his Massachusetts home. Gill did not respond to requests for comment. But with people now stuck at home in the pandemic with easy access to free trading at online brokerages, “these guys saw an opportunity and they took it,” he said. Gill “would have been impossible even a few years ago” because every trade came with a fee and there was less focus on the markets on social media. Larry Tabb, the head of market structure research at Bloomberg Intelligence, said the rise of traders like Mr. Junk Bonds: Firms with low credit ratings, whose debt is often referred to as “junk,” are now taking advantage of a window of opportunity to borrow more cash.Enduring Meme Stocks: The frenzy that saw traders congregate on social media and push stock prices for companies like GameStop higher can no longer be explained as simply a pandemic phenomenon.What’s a family to do? There’s no one-size-fits-all answer, but you have options. College Savings : As the stock and bond markets wobble, 529 plans are taking a tumble.Navigating Uncertainty: What should investors do about the stock market’s repeated head-spinning changes in direction? Nothing, our columnist says. Our Coverage of the Investment World The decline of the stock and bond markets this year has been painful, and it remains difficult to predict what is in store for the future.
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