Reported about 1 year ago
Roaring Kitty, also known as investor-influencer Keith Gill, planned a live event to celebrate becoming a billionaire thanks to GameStop's stock surge, but saw his plans unravel after the company announced a large stock issuance, causing a premarket drop of 15%. The unexpected move dashed hopes of Gill hitting the $65 threshold needed for his stock to reach billion-dollar value and caused concerns of market manipulation due to Gill's social media sharing. Despite a potential SEC investigation, Gill's massive position in GameStop may pose challenges for him to cash in his paper fortune without crashing the market.
Source: YAHOO