Home Money Meme Stock Star Roaring Kitty Faces US Investigation Over Gamestop’s Latest Trading Claims

Meme Stock Star Roaring Kitty Faces US Investigation Over Gamestop’s Latest Trading Claims

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Meme Stock Star Roaring Kitty Faces US Investigation Over Gamestop's Latest Trading Claims

US regulators are investigating a famous meme stock investor known as Roaring Kitty.

The trading activities of Keith Gill, who has resurfaced after gaining a cult following online during the pandemic, are under scrutiny by the Massachusetts securities regulator.

Gill returned to online chat forum Reddit this week with a post showing that a £91m bet has been placed on embattled video games retailer Gamestop.

The post sent the stock’s value soaring in a move reminiscent of those seen in the meme stock craze of 2021.

The screenshot suggested that Gill could own 5 million shares, fueling investor confidence in the business.

Investigation: Keith Gill (pictured), who has reemerged after gaining a cult following during the pandemic, is under scrutiny by the Massachusetts securities regulator.

This followed his re-emergence on X, formerly known as Twitter, last month when he posted cryptic tweets after a two-year absence.

Gamestop shares have almost doubled in value in the last month, giving the group a market capitalization of £7bn.

Gill fueled a buying spree of Gamestop shares three years ago, when shares rose to $120 from as low as $3 in three months, before pulling back.

The episode inspired the 2023 film Dumb Money.

Critics fear Gill’s return could lead to a spiral of losses for retail investors.

Morgan Stanley’s e-commerce division is considering banning Gill from its platform, The Wall Street Journal reported.

The watchdog declined to give details.

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