Roaring kitty professional#

These include Steve Huffman, the chief executive of Reddit, Vlad Tenev, the boss and co-founder of trading app Robinhood, and the CEO’s of several major hedge funds including Gabriel Plotkin, the boss of Melvin Capital, and Citadel LLC CEO Kenneth C. I did not know any people inside the company, and I never spoke to any insider,” he added.Īlongside Roaring Kitty, Thursday’s hearing before the Financial Services Committee of the US House of Representatives will also bring testimony from a number of other key figures in the GameStop saga. I had no information about GameStop except what was public. I never had a financial relationship with any hedge fund. I did not belong to any groups trying to create movements in the stock price. “I did not solicit anyone to buy or sell the stock for my own profit. Whether other individual investors bought the stock was irrelevant to my thesis – my focus was on the fundamentals of the business,” Gill said in the testimony. “I was abundantly clear that my channel was for educational purposes only, and that my aggressive style of investing was unlikely to be suitable for most folks checking out the channel. However, Gill has refuted claims that he broke any laws through his actions, saying in prepared testimony for a Congressional hearing to take place later on Thursday that the idea he used social media to lure uninformed investors into buying GameStop shares in “preposterous”. Keith Gill, or Roaring Kitty on YouTube and DeepFingValue on Reddit forums, allegedly hid his sophisticated financial training and duped retail traders into buying inflated stocks, according to the complaint filed on Tuesday. A subsidiary of MassMutual has agreed to pay a 4 million fine to resolve accusations. He is the Reddit trader behind the GameStop saga Credit: Roaring Kitty/YouTube. It is also alleged that Gill purchased shares in GameStop last year for around US$5 each and then used his social media presence to drive the shares higher in January, with the stock reaching a peak of around US$347 on January 27, which the lawsuit says violated securities laws concerning market manipulation. MassMutual settles case involving ‘Roaring Kitty’ with 4 million fine. READ: Reddit, Robinhood and Roaring Kitty prepare to face Congress in GameStop hearing In the lawsuit, filed by Washington state resident Christian Iovin, it is alleged that Roaring Kitty, whose real name is Keith Gill, duped retail investors into buying shares in GameStop and other inflated stocks while concealing his own background in finance. The stock was trading around $46 on Wednesday.YouTuber Roaring Kitty, also known on Reddit as u/DeepFuckingValue, is facing a class-action lawsuit over his role in the recent trading frenzy in shares of video game retailer GameStop Corp ( NYSE:GME). Gill allegedly purchased GameStop stock for $5 and then used social media to drive shares from around $20 in early January to more than $400 in just two weeks, violating securities laws against manipulating the market, according to the lawsuit. The company told Massachusetts regulators it was unaware of Gill’s outside activities. MassMutual did not immediately respond to a request for comment. MassMutual was obligated to supervise his activities as a registered broker, according to the lawsuit. The lawsuit by Christian Iovin, a Washington state resident who purchased GameStop stock options, also names as defendants Massachusetts Mutual Life Insurance Co and its subsidiary MML Investors Services LLC, which employed Gill until Jan. “I was abundantly clear that my channel was for educational purposes only, and that my aggressive style of investing was unlikely to be suitable for most folks checking out the channel.”

Roaring kitty professional#

“The idea that I used social media to promote GameStop stock to unwitting investors is preposterous,” said Gill’s testimony to Congress, which was published on Wednesday. 2 min read WASHINGTON (Reuters) - The Massachusetts financial professional who gained notoriety as GameStop bull 'Roaring Kitty' is no longer a broker registered with the.The lawsuit comes before Gill is scheduled to testify on Thursday in Congress about the so-called “Reddit rally.” According to the lawsuit, Gill “incited” the rally, which was hailed as a victory of the little guys against Wall Street hedge funds that bet against GameStop and other struggling businesses. Keith Gill, or Roaring Kitty on YouTube and DeepF***ingValue on Reddit forums, allegedly hid his sophisticated financial training and duped retail traders into buying inflated stocks, according to the complaint filed on Tuesday. (Reuters) – The social media persona “Roaring Kitty” at the center of last month’s frenzied rally in shares of GameStop Corp violated securities laws and caused “huge losses” for investors, according to a class action lawsuit filed in federal court in Massachusetts.