The GameStop Guy Has Returned… (And Has A New $210M Bet)

**Shaan Puri** (0:00)
Sam, this podcast is not financial advice, but if I was going to give anyone financial advice, I would have said, rewind the clock to May 1st, just a month ago, and all you need to do if you ever want to triple your money, forget Warren Buffett, forget Bill Ackman. All you had to do was buy GameStop.

**Sam Parr** (0:29)
On the Mount Rushmore of investing, there's Bill Ackman, there's Warren Buffett, these wise older men who just exude confidence, exude wisdom right next to them is deep fucking value.
That's the world we're living in right now. So a lot has happened with this guy. Let's tell a little bit of the background of who this person is and what happened. So what year did this start? Probably 2020, so peak zero interest, COVID is happening. A lot of people are streaming online and saying their thoughts because they're working from home. There's this guy named Keith Gill. Keith Gill, I think he worked at Mass Mutual or just some normal boring job, like a $100,000 a year job.
However, he loves stock investing, like he studies it and turns out he's a very charismatic guy. And he starts streaming some of his picks and why he likes certain companies, whatever.
Now, we all remember that in 2020, 2021, the stock market went crazy and there was a subreddit called Wall Street Bets. And a lot of people had extra income because of whatever was happening. And they were betting crazy amounts of money on silly stocks. Well, this guy, Keith Gill, he has a username on Reddit called DeepFuckingValue. And then he has a YouTube page called Roaring Kitty.
And he starts explaining why he likes GameStop.
And he invests roughly $56,000, which at the time, I think that was like all of his money.
And he goes on this kind of campaign explaining why he likes that stock. And it's kind of like an underdog story. It's this kind of nobody charismatic, cool guy versus the large companies. And the reason he starts investing into GameStop is these large companies, these large head funds, he finds out they're shorting the company. And he was like, I actually think they're wrong. I think this is great. And so it becomes a little bit of a Robin Hood, Dave and Goliath type of story. And all of Reddit, all of Twitter gets behind Keith Gill, deep fucking value, Roaring Kitty. And the stock goes crazy. He makes something like $30 million off of his $50,000 investment. And he spends about, how long was that? 18 months, two years.
Like, with his campaign talking about it. But then he makes $30 million. He goes silent. Nothing happens. There's a movie made about him with Seth Rogen. It was an awesome movie.
But at the end of the movie, they go, we try to get Keith Gill to comment on this movie and give us insight. He didn't say anything. He's been silent. We haven't heard from him until last month. It all changed. What happened?

**Shaan Puri** (2:58)
So great summary. Last month, Roaring Kitty, as he's known, he's got a couple of different names, right? There's his Reddit username, but then Roaring Kitty was kind of his streaming name.
And he comes back on Twitter and he just posts a meme. And it's the meme of the guy sitting in his chair and then starts to lean forward. Like he just became interested in something.

**Sam Parr** (3:19)
The gamer lean.

**Shaan Puri** (3:20)
The gamer lean, the lean in. Many of you listen to this podcast right now, might have the gamer lean going. And I hope you do.
But he posts that nobody knows what it means, cryptic. And then he starts posting some more cryptic videos. A little match.

**Sam Parr** (3:32)
That tweet got 30 million views.

**Shaan Puri** (3:34)
Yeah, people are ready.
And immediately like stock pops a little bit, but nobody knows what it means. And nobody knows really what happened to this guy. During that run where he turned basically like $56,000 into tens of millions of dollars, he held the whole way. So what everybody thought was great, the short squeeze is great. What happens when people start to take gains, this whole thing's gonna collapse.
And sure enough, that is kind of what happened. It didn't stay at the peak. I think at the peak, it was like $480. And it did start to come down. But he had, as we say in crypto, diamond hands. And he did not sell during that time, or nobody knew what he was doing during that time, but he had never, there was no evidence of him selling. So he comes back, he starts posting all these clips and people start getting excited. And what's happened in the last, you know, I don't know, month or so is the stock has tripled and it's tripled in spite of Robinhood and others halting the stock again, because like last night and after hours, it was up 100%. Your money just doubled last night if you had bought yesterday.