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Aisar
@aisarcore
Financial & Crypto News. Founder @icmfun
가입 October 2021
7.7K 팔로잉 중    57K
A 34 year old insurance educator from Massachusetts invested $53,000 into a dying video game store that nobody wanted. Wall Street laughed. Then it turned into $48 MILLION and he brought the entire hedge fund industry to its knees. – Keith Gill worked a regular 9 to 5 job at MassMutual insurance in Massachusetts. – He spent his evenings posting stock analysis videos on YouTube under the name Roaring Kitty. He had almost no viewers. – In 2019 he invested $53,000 into GameStop. – A struggling mall video game store that every Wall Street hedge fund was betting against. – They were so confident it would fail they had shorted the stock meaning they had borrowed and sold shares expecting to buy them back cheaper when the price collapsed. – Gill posted his analysis on Reddit's WallStreetBets forum. – Argued GameStop was undervalued and the hedge funds were wrong. Most people ignored him. – Then ordinary people started reading his posts. Retail investors with $500 and $1,000 accounts started buying GameStop shares in their thousands. – In January 2021 GameStop stock went from $3 to $483 in three weeks. A 16,000 percent increase. – The hedge funds that had shorted the stock were now in a catastrophic position. – As the price rose they were being forced to buy back shares at prices they never imagined. Melvin Capital lost $6.8 BILLION in a single month. – Robinhood and other brokers under pressure from Wall Street suddenly restricted ordinary people from buying GameStop while letting institutions sell freely. The internet exploded. – Gill was called to testify before the United States Congress. – He sat in front of the entire House Financial Services Committee in a headband and said: "I am not a cat. I am not a hedge fund. I like the stock." – His $53,000 had turned into $48 MILLION at its peak. – He quietly posted his final Reddit update in April 2021 showing a profit of nearly $20 MILLION. Then disappeared completely from the internet. – A Hollywood film called Dumb Money was made about him in 2023 starring Paul Dano. – He has given no interviews. Made no public appearances. Nobody knows exactly what he did with the money. A regular guy with $53,000 and a YouTube channel no one watched turned a dying mall store into a weapon that wiped $6.8 BILLION from a hedge fund in one month.
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