GameStop

Roaring Kitty

Kitty

<p>The Massachusetts Securities Regulator is investigating Keith Gill, an investor known as ”Roaring Kitty,” in connection with trading activities related to GameStop (GME).</p>
<p>That’s according to <a href="https://www.nbcboston.com/news/local/mass-secretary-of-state-investigating-roaring-kittys-gamestop-trades/3389258/" rel="noopener noreferrer nofollow">a report by NBC 10 Boston</a>, which said the office of Massachusetts Secretary of State Bill Galvin, who is the state’s top securities regulator, confirmed on Tuesday that it is investigating Gill, who is a resident of Brockton.</p>
<p>Separately, the Wall Street Journal reported that Morgan Stanley’s E*Trade is considering kicking Gill off its platform amid concerns over possible stock manipulation. Gill had posted on Reddit a picture of his huge holdings in GameStop (GME) stock, triggering a rally in the company’s shares and multiple meme coins linked to the company.</p>
<p>The WSJ also said that the Securities and Exchange Commission (SEC) is investigating options trading in GameStop. A spokesperson for the agency declined to confirm or comment on that, Reuters reported.</p>
<p>GameStop-related meme coins slumped. GameStop (GSTOP) is down 30% in the last 24 hours, GME plunged 23%, and Roaring Kitty (KITTY) slumped 8%.</p>
<h2 id="keith-gill-and-his-influence-on-meme-stocks">Keith Gill And His Influence On Meme Stocks</h2>
<p>Gill came into the spotlight in 2021 during the meme stock frenzy, and was a pivotal player in the short squeeze on GameStop. He remained notably quiet for three years before returning in May with a flurry of memes on X (Twitter).</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="zxx" dir="ltr"><a href="https://t.co/jPVR41YSwD" rel="noopener noreferrer nofollow">pic.twitter.com/jPVR41YSwD</a></p>
 <p>— Roaring Kitty (@TheRoaringKitty) <a href="https://twitter.com/TheRoaringKitty/status/1791472490637914238?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 17, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>His return has seen GameStop shares gaining by 60% in the last month, while AMC is up by 45%.</p>
<p>Earlier this week, Gill posted a screenshot on Reddit showing he has <a href="https://insidebitcoins.com/news/gamestop-surges-199-after-roaring-kitty-reveals-180-million-gme-stake" target="_blank" rel="noopener noreferrer nofollow">invested $116 million</a> in GME and 120,000 GME June 21 call options worth $65.7 million. The screenshot saw GME gaining by 21%.</p>
<h2 id="keith-gill-enjoys-some-support-from-social-media">Keith Gill Enjoys Some Support From Social Media</h2>
<p>Despite the investigation into Gill’s trading activities, he is garnering some support on social media platforms. According to one user on X, regulators were biased in investigating Keith Gill while ignoring rampant complaints of stock manipulation by some members of the US Congress.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Pretty sure <a href="https://twitter.com/TheRoaringKitty?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TheRoaringKitty</a> understands the securities law thoroughly.</p>
 <p>He actually fought for investors at lex shares which is litigation finance firm….</p>
 <p>I did my research 👍🏽</p>
 <p>Shorts are fuckn done <a href="https://twitter.com/search?q=%24AMC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$AMC</a> <a href="https://twitter.com/search?q=%24GME&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GME</a> <a href="https://t.co/rDBaMSxXTG" rel="noopener noreferrer nofollow">pic.twitter.com/rDBaMSxXTG</a></p>
 <p>— Travis (@trvsrdrgz2) <a href="https://twitter.com/trvsrdrgz2/status/1797998589744148799?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 4, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Another report cited a trader who <a href="https://x.com/ACInvestorBlog/status/1798091710741848332" target="_blank" rel="noopener noreferrer nofollow">said</a> that E*Trade considering a ban on Gill was absurd.&nbsp;Another user <a href="https://x.com/trvsrdrgz2/status/1797998589744148799" target="_blank" rel="noopener noreferrer nofollow">mentioned</a> that Gill is very knowledgeable on securities laws.</p>
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Massachusetts Securities Regulator Investigates Roaring Kitty Over Trading Practices As GameStop Meme Coins Slump

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