The Massachusetts securities regulator is investigating the trading activities of Keith Gill, known as "Roaring Kitty," a prominent figure during the 2021 meme stock surge involving GameStop.
The Massachusetts securities regulator is probing the trading activities of GameStop, $GME investor Keith Gill aka DeepFuckingValue aka Roaring Kitty
6/4/2024
Massachusetts Secretary of State Bill Galvin, the chief securities regulator for the state, has initiated this probe into Gill's activities. A spokesperson for Galvin confirmed the investigation but declined to provide additional details.
This inquiry was first reported by The Wall Street Journal.
On Monday, GameStop shares saw a significant increase after "Roaring Kitty" reappeared on Reddit, sharing a post that revealed a $116 million investment in the struggling video game retailer. By 10:45 a.m. ET (1445 GMT), the shares had declined by about 5%.
This Reddit post, the first from Gill's account in three years, suggested that he might be holding a substantial paper profit of tens of millions of dollars from his GameStop options position. Reuters could not independently confirm the authenticity of the Reddit post or the disclosed positions.
Attempts to reach Gill for comment were unsuccessful. It's important to note that regulatory inquiries and investigations do not necessarily imply wrongdoing and often do not lead to enforcement actions.
Previously, Galvin had investigated Gill's activities in 2021. That matter was concluded with a settlement involving Gill's former employer, MassMutual, which was penalized for inadequate supervision of his activities, according to a spokesperson for Galvin last month.
In 2021, Gill's bullish GameStop trades, shared through screenshots on Reddit, sparked a surge in demand for "meme stocks" – companies often with weak fundamentals that gained popularity through social media hype among retail traders.
The U.S. Securities and Exchange Commission (SEC) also investigated the 2021 meme stock phenomenon, ultimately concluding that market systems functioned properly and finding no evidence to support claims that short sellers were responsible for the frenzy.
The Wall Street Journal further reported that the SEC is examining options trading in GameStop. However, an SEC spokesperson declined to confirm or comment on this report.
OpenAI’s o3 model sabotaged a shutdown mechanism to prevent itself from being turned off
5/27/2025 5:26 PMIndia officially surpasses Japan to become the 4th largest economy in the world
5/27/2025 1:54 AMTrump extends 50% Tariff Deadline after call with European Commission President
5/26/2025 12:26 AMElon Musk has said he is back
5/24/2025 11:31 PM
Stay Updated
Subscribe to our newsletter for the latest financial insights and news.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.