Keith Patrick Gill (born June 8, 1986) is an American financial analyst and investor known for his posts on the subreddit r/wallstreetbets
His analyses of GameStop stock (and his resulting investment gains) posted on Reddit as DeepFuckingValue (DFV) and on YouTube and Twitter as Roaring Kitty were cited by many as a driving factor in the GameStop short squeeze of January 2021, and as a spark for the subsequent trading frenzy in retail stocks. The rising stock value allowed him to turn a US$53,000 investment into an investment worth close to $50 million, as of January 28, 2021. Continue reading “Investor: Keith Gill”
Robinhood Is In Talks With FINRA To Settle March 2020 Probe Into Options And Outages
Tyler Durden, Zero Hedge, 26 February 2021
At the center of the investigation was how Robinhood displays cash balances and buying power to its customers and the process that it undertakes to vet and approve traders for options trading. Continue reading “Article: Robinhood Is In Talks With FINRA To Settle March 2020 Probe Into Options And Outages”
War Of Words: Robinhood Responds To “Disappointing, Elitist” Charlie Munger Bemoaning “Speculative Orgies”
TYLER DURDEN, 26 February 2021
Investing legend Charlie Munger didn’t pull any punches when talking about Robinhood and the gamification that is driving new investments in the stock market over the last few years. In an exclusive interview with the Wall Street Journal, the 97 year old Vice Chairman of Berkshire Hathaway sounded off about the “wild speculation” created by the budding brokerage.
“I hate this luring of people into engaging in speculative orgies. [Robinhood] may call it investing, but that’s all bullshit,” Munger said on Thursday.
“It’s really just wild speculation, like casino gambling or racetrack betting. There’s a long history of destructive capitalism, these trading orgies whooped up by the people who profit from them.”
Continue reading “Article: War Of Words: Robinhood Responds To “Disappointing, Elitist” Charlie Munger Bemoaning “Speculative Orgies””
Public App Takes Aim At Robinhood With Already-Viral Michael Bolton Ad
Tyler Durden, ZeroHedge, 23 February 2021
On the same day that it hit the wires that Robinhood’s CEO said it was “necessary” for the company’s business operations to sell its order flow (as we have been detailing at painstaking length here on Zero Hedge for years before it became a mainstream media story) Continue reading “Article: Public App Takes Aim At Robinhood With Already-Viral Michael Bolton Ad”
How were more than 100% of GameStop’s shares shorted?
John McCrank, Reuters, 18 February 2021
But Vlad Tenev, broker Robinhood’s chief executive officer, recently pointed out that some of the stocks involved in the “meme stock” rally were more than 100% shorted, implying that more shares were shorted than were available to trade.
“I just think that’s pathological,” he said on the All-In Podcast late last Friday. “You end up with this situation that could destabilize the financial markets.”
Read full article.
Trading hot stocks like GameStop seems fun until you look beneath the surface
Congress is asking questions about whether middlemen or “market makers” like Citadel that execute stock trades really give small investors the best prices.
Gretchen Morgenson, ABCNews, 18 February 2021
Market makers like Citadel make money by pocketing the difference between the price at which they buy shares — the bid — and the price they receive from selling them to Robinhood clients, the offer. Other firms in the business are Virtu Americas, G1X Execution Services and Two Sigma Securities.
Read full article.
SEC Data Show $359 Million of GameStop Shares Failed to Deliver
Brandon Kochkodin, Bloomberg, 17 February 2017
GameStop surged more than 1,700% before curbs were implemented
More than 2 million shares failed to deliver at peak of mania
“Fails-to-deliver can occur for a number of reasons on both long and short sales,” reads a disclaimer on the SEC website. “Therefore, fails-to-deliver are not necessarily the result of short selling, and are not evidence of abusive short selling or ‘naked’ short selling.”
Comment: The SEC is full of shit and a RICO organization complicit in Class A felonies enabled by the Department of Justice and the Senate Banking Committee. For the slow learners, start with the Cartoons.
Here Are The Prepared Remarks For Tomorrow’s “Game Stopped” Hearings
Tyler Durden, 17 February 2021
On Thursday, the House Financial Services Committee will convene its planned hearing on the Gamestop trading fiasco, where the heads of Citadel, Robinhood, Reddit and Melvin Capital will come together to face off against Democrats like Committee Chairwoman Maxine Waters and AOC.
Ahead of that, some of the planned testimonials have been released.
Below, find remarks from Keith Gill, a Youtuber/Redditor best known as “RoaringKitty”. In his testimony, the trader- who is facing a lawsuit related to his trading and online antics – insists that he still believes in his “fundamental case” for being long Gamestop, and insists he didn’t try and pump the shares purely for his own profit.
Continue reading “Article: Here Are The Prepared Remarks For Tomorrow’s “Game Stopped” Hearings”