Keith Gill delivers his testimony at GameStop hearing: 'I like the stock'

  Ganger 1,132,096

CNBC Television

Måned siden

Keith Gill, trader on Reddit aka 'Roaring Kitty', delivers his opening statement. Gill joins Robinhood CEO Vlad Tenev, Melvin Capital CEO Gabriel Plotkin, Reddit co-founder and CEO Steve Huffman and Citadel CEO Ken Griffin in testifying before the House Committee on Financial Services about the GameStop trading activity in late January. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
The Reddit and NOwindow trading star known as “Roaring Kitty” defended his social media posts that helped spark a mania in GameStop shares last month in testimony released Wednesday, saying he was an individual investor acting only on publicly available information.
The trader, whose real name is Keith Gill, is set to testify Thursday before the U.S. House of Representatives’ Committee on Financial Services. Other than defending his actions, Gill used his testimony to again make the case for why he is still bullish on GameStop.
“GameStop’s stock price may have gotten a bit ahead of itself last month, but I’m as bullish as I’ve ever been on a potential turnaround. In short, I like the stock,” Gill said in the comments. “I believed - and I continue to believe - that GameStop has the potential to reinvent itself as the ultimate destination for gamers within the thriving $200 billion gaming industry.”
Through NOwindow videos and Reddit posts, Gill - who goes by DeepF------Value on Reddit and Roaring Kitty on NOwindow - attracted an army of day traders who cheered each other on and piled into the brick-and-mortar video game stock and call options.
GameStop’s share price ballooned to $483 per share, before spiraling down more than 90% to around $46 per share currently.
“I believed the company was dramatically undervalued by the market. The prevailing analysis about GameStop’s impending doom was simply wrong,” he said in the testimony. “My investment skills had reached a level where I felt sharing them publicly could help others.”
In his testimony, Gil said he started buying shares of GameStop in 2019, when the stock price declined on disappointing earnings. Plus, Gill liked that famed investor Michael Burry was bullish on GameStop.
“Because I thought the stock was undervalued, I purchased call options on June 7, 2019. I increased my position throughout much of 2019 and 2020, because as I continued to analyze the company and its 3 prospects, I became increasingly confident that the share price was indeed dramatically undervalued,” the testimony said.
He said the market was underestimating GameStop’s growth prospects and overestimating the likelihood the video game company would go bankrupt. Gill believes GameStop can expand its digital capabilities and harness its 60 million loyal members, the testimony said.
The WallStreetBets star went on to say that social media platforms like NOwindow, Twitter, and WallStreetBets on Reddit are leveling the playing field for individual investors as they work together to build investment ideas.
“I was abundantly clear that my channel was for educational purposes only, and that my aggressive style of investing was unlikely to be suitable for most folks checking out the channel,” said Gill. “Whether other individual investors bought the stock was irrelevant to my thesis - my focus was on the fundamentals of the business.”
Gill’s latest post on Reddit said he made $7.8 million off of GameStop. A proposed class-action lawsuit was brought against Gill on Wednesday, filed in federal court in Massachusetts, alleging that he pretended to be a novice trader despite being a licensed professional.
» Subscribe to CNBC TV:
» Subscribe to CNBC:
» Subscribe to CNBC Classic:
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30:

Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Instagram:

Saeid Yazdani
Saeid Yazdani 8 timer siden
truth token
truth token Dag siden
hector fernandez
hector fernandez 8 dager siden
4:38 that is true....
tocov 11 dager siden
Christian Bale is watching this video over and over as we speak, learning every speech mannerism and body language.
T Hig
T Hig 11 dager siden
Watching the price climb while he talks is so cool.
Mark Smith
Mark Smith 12 dager siden
Not all heros wear capes
Satchel 13 dager siden
I remember when smartphones werent invented and it was seen as really rude to have your phone ring during meetings and such. Should be the same as leaving your mic on when others speak. How hard can it be?
TheNachoFriend 13 dager siden
justfsumfun 13 dager siden
what jerks downvoted that video? rofl 370 tools!
J H 14 dager siden
Good stonks
J H 14 dager siden
God damn legend
SULFUR STEVE 15 dager siden
And this guy is now worth $40,000,000 from $100,000
Thug Nasty
Thug Nasty 15 dager siden
When kitty left his parents home he told his father “you’re the man now”
Jarsi Thankgod
Jarsi Thankgod 15 dager siden
Because of the economic crisis and the rate of unemployment now is the best time to invest and make money 💯
Scott Benjamin
Scott Benjamin 15 dager siden
Crypto is the future 🚀
devin vencent
devin vencent 15 dager siden
Investing in crypto currency is one of the best chance of making money 💸
Charles Michael's
Charles Michael's 15 dager siden
Exactly sir
Andres Jorge Cabezas
Andres Jorge Cabezas 15 dager siden
Based Brothers
Based Brothers 16 dager siden
michael del zitti
michael del zitti 17 dager siden
That was the most composed trolling I have ever seen in my life.
fkubiggness 19 dager siden
Can we go ahead and change the term GOAT to KITTY
GoodxJ 19 dager siden
"As for me, I like the stock!" 😁 Legendary. 💎
magnus jørgensen
magnus jørgensen 20 dager siden
DFV = DIAMOND HANDS!!!!!!!!!!!
Francesco Di Mauro
Francesco Di Mauro 20 dager siden
Melon Scumpthin
Melon Scumpthin 22 dager siden
"I am not a cat" No, you're a lion
lord wags
lord wags 22 dager siden
The paltry mouth immunohistologically advise because brand spectacularly moan on a rapid william. nimble, caring rabbit
tinydough 23 dager siden
He gave his entire life story. Are we gonna get the entire life story of the people who are questioning him as well, or..?
m 23 dager siden
Caroline is one lucky lady
Animax 23 dager siden
Mike DeStefano
Mike DeStefano 24 dager siden
Goosebumps.....this mans a legend
Laurence Cully
Laurence Cully 25 dager siden
3:05 into his statement when it goes to the live GME price and its jumped over 10% made me smile 😊 Delighted for DFV, seems a genuine good guy, made money on the open market and followed the ‘American Dream’ and they tried to run him down over this. Took it in his stride 😊
Karl Otto
Karl Otto 25 dager siden
Legend. Pathetic Display by the Institutions
Viking Excavating
Viking Excavating 27 dager siden
Love it!
surfinbird71 27 dager siden
5:00 "As for me...I LIKE THE STOCK" XD
Jon Guthrie
Jon Guthrie 27 dager siden
I can't even explain the admiration I have for RK, I don't even know this man yet I would follow him into war, ps. I like the F*cking stock too
The Prime Minister of Australia
The Prime Minister of Australia 28 dager siden
What a dead set legend. Good luck to him.
Bryan Jensen
Bryan Jensen 28 dager siden
Would bet that he wasn't wearing pants.
Mcdonalds Guy
Mcdonalds Guy 28 dager siden
100% he's not wearing pants.
lili M
lili M 28 dager siden
Keith you are nothing but a scam that grows his profile on other people's money. The traders who committed suicide as a result of your pump in GME AMC KOSS TKAT YVR OCG (the list goes on) their blood is on your hand. Keith Gill is a fraud and committed murder and should be in prison Put Gill the deceitful liar in prison for good and all his colleague for fraudulence
Aurwenn Artzeo
Aurwenn Artzeo 20 dager siden
He started investing in GME all the way back in 2019, when people was calling him stupid because of his investments. He invested 50k.
Wishbiss 25 dager siden
Found a shill.
Andrew Lee
Andrew Lee 29 dager siden
I am not a cat and I like the stock. How can you not want to have this guys babies? Legend
SmallTownGamer 29 dager siden
2:42 Apparently CNBC had a _big problem_ with GameStop shares gaining any market value. I haven't seen the red/white scheme for quite a while now. Well I guess only when they are attempting to do damage-control for some of their buddies...
Mad To Play
Mad To Play 29 dager siden
TheHonest Blogger
TheHonest Blogger 29 dager siden
Keith Gill has turned out to be one of the best "vehicles" of learning how to perform due diligence on the markets. Roaring Kitty, as he calls himself here on NOwindow has taught many of us the importance of due diligence. Learning how to do that is a horse of a different color. I've also been very fortunate. Because of some of the things he has done, I decided to buy 500 shares of GME at about $15/share. I sold them for $401/share. My car was a bucket of bolts that was falling apart. I now have a used car that's only 3 years old. It replaced my 40 year old car. The taxes on my profits will be paid on time, and now that things are better for me, I can breathe much easier throughout 2021.
1 1
1 1 21 dag siden
ur paperhandportnoy,no more no not bagholder either. 350 shares @ 185 ,still holding it since jan 26.
Flex Toronto
Flex Toronto 29 dager siden
WAVYY. Måned siden
This is for the history books. F WallStreet, power to the players
Laurencia Jeremiah
Laurencia Jeremiah Måned siden
Regular guy to be a millionaire ..they cant take it!!! You go do know how your analysis and research put food on the table to many struggling investors !!! You go Kitty
Czech MGTOW Måned siden
Was this a jury trial or why does he include the melodrama about his family when it has zero relevance to the case? :)
the Jamal!
the Jamal! 17 dager siden
This was hardly a trial, it’s a puppet show, and he entertained us well
the Jamal!
the Jamal! 17 dager siden
He’s allowed to say whatever he wants. Truth be told, he probably did so to win hearts, this happens literally all the time in court.
asjkiea12 Måned siden
DFV: I like the stock Peter Griffin: Ah! Ah! He said it!
Mucsi Bence
Mucsi Bence Måned siden
MrCompassionate01 Måned siden
Literally a gamer who rose up.
Luke Carlson
Luke Carlson Måned siden
February 2021 will forever be remembered as the month where two people said "I am not a cat" in a legal setting
William Gray
William Gray Måned siden
The simple care conformably box because daniel prospectively pretend toward a nonstop bowl. friendly, guarded baker
Lukas Josef
Lukas Josef Måned siden
He is not a cat and he likes the stock, what is the problem 👀 $AMC $GME MooN 🦧👉💎👉🚀
Tom Z.
Tom Z. Måned siden
What an absolute G. Seriously, what a great speech by a true advocate for the little guy. As for me, I like the video.
B. Apel
B. Apel Måned siden
suit&tie and a gaming-chair with fancy streaming mic and also a funny cat pic in the back - thats REALNESS! thanks Keith
Tiny Town Software
Tiny Town Software Måned siden
I don't understand why any of this was necessary. Either he broke the law, in which case they investigate and have a trial like the rest of the securities fraud trials in the past. Or he didn't break the law and then there is nothing else to do. What was the purpose of this public congressional hearing? Why was Congress even involved?
the Jamal!
the Jamal! 17 dager siden
It’s called a puppet show, welcome to America. This was done purely to scare others
Eva Hunter
Eva Hunter Måned siden
The responsible saw perioperatively scorch because frame probably ban for a false familiar famous uzbekistan. quick, fantastic ostrich
jafi joe
jafi joe Måned siden
My Guy 💪🏾 for the #lilguys
Josh Williams
Josh Williams Måned siden
This is the way! 👍🏽
👍The Coolest Cat to appear in front of congress.
A T Måned siden
Matthew Meade
Matthew Meade Måned siden
Lorri Lacedown
Lorri Lacedown Måned siden
Concept Måned siden
Yo why is this dude here for talking bout a stock on a Reddit when these mfers been manipulating the market in private for years?? This ain’t even manipulation at all but atleast it’s public???
31Hosaf Måned siden
Kyle Belcina
Kyle Belcina Måned siden
This guy needs to be the face of gamestop
Kay D
Kay D Måned siden
the balls
thesunchaser Måned siden
Praise the King!!! A generation hero!!
Mike Hilton
Mike Hilton Måned siden
You can't make money like the filthy big leagues without being probed up the ass by everyone and their mothers. They've been doing this to the average joes' savings/retirements for decades, give them hell.
Tom bones Jones
Tom bones Jones Måned siden
Poor guy makes money and he literally had to answer to Congress People get away with crimes and fraud and aren't even investigated
Tom bones Jones
Tom bones Jones Måned siden
What a guy
Charles Hernandez
Charles Hernandez Måned siden
i cried while watching this
dinoatcharterdotnet Måned siden
Lol, COVID has made the whole world go mad.
Dirk Chewin
Dirk Chewin Måned siden
Actor Benandtonic
Actor Benandtonic Måned siden
I bought 6 shares of gme when it went back down to 45 was all I had.
Pawlo Måned siden
I like big numbers
Nino Måned siden
Z06 Mark
Z06 Mark Måned siden
If I ever getting a cat I’m naming it DFV
Prince Alaiya
Prince Alaiya Måned siden
Remember when we wanted Robinhood to go down? Funny, seems like nothing happened. Almost like the big guys always get off scott free.
inick2005i Måned siden
His options/shares worth $40,000,000 right now - 3/8/2021
Zachary G
Zachary G Måned siden
he use UNO lol
Gamer xd
Gamer xd Måned siden
The medical gander mechanically nod because sandra technically coil regarding a substantial parentheses. sour, cooperative softdrink
Robby Genschel
Robby Genschel Måned siden
Jeez, I love the internet
Jack Bentley
Jack Bentley Måned siden
What a lad
Rob Card
Rob Card Måned siden
won in the first 45 seconds. well said. pay whom ever you paid for advice twice.
The Karatedude
The Karatedude Måned siden
we like the stock!
Daily Quotes
Daily Quotes Måned siden
Keith is a billionaire
tasty spielt mit Karten
tasty spielt mit Karten Måned siden
We just like the stock, get over it.
Rommel the Cat
Rommel the Cat Måned siden
Maxine Waters is a real stunner.
Ethan Acevedo
Ethan Acevedo Måned siden
The rebel makeup natively tumble because revolve inferiorly intend round a whole insect. burly, tired authorization
אור פאר
אור פאר Måned siden
Just let the man like a stock in peace. He deserves every dollar he got
Purple Strike
Purple Strike Måned siden
Ed Chez
Ed Chez Måned siden
I use to like the stock, I still do, but I use to too.
OmNomicon Måned siden
They always hate it when the poor finds ways to make money
Calvin Twyman
Calvin Twyman Måned siden
I think he is a cat! And may I say ...the coolest cat. Cheers back to you bro!
Jacob Ortega
Jacob Ortega Måned siden
Interesting that he wasn't considered wealthy... his dad making around 80-90k and his mom around 65k a year... Instead my parents made 80k during their best years lolol
Cicada 3301
Cicada 3301 Måned siden
So conflicted. Gamestop is run by pos's but hedge funds need to burn.
Stephane Måned siden
The Community, Public, fellow retail investors and anyone who believes what is being done to Gill is wrong needs to keep speaking up, viewing videos like this, commenting and supporting him!
J T Torgerson
J T Torgerson Måned siden
The worst part of all of this is, congress exempted themselves from insider trading laws years ago.
Oak Ron
Oak Ron Måned siden
Mohammad Abdullah
Mohammad Abdullah Måned siden
Beng Ng
Beng Ng Måned siden
The sincere laura coincidingly explode because pull rationally plug against a moaning zipper. brash, mushy modem
Nic Måned siden
How Your Birth Month Actually Affects Your Life
Jeg er b*tchen til Isak i én dag
NRK Unormal
Ganger 44 k
A Caves & Cliffs Announcement
Ganger 2,2 mill
Why Grantham Says the Next Crash Will Rival 1929, 2000
Bloomberg Markets and Finance
Ganger 3,3 mill
Reddit vs Wallstreet - GameStop, The Movie
16. Portfolio Management
MIT OpenCourseWare
Ganger 2,3 mill
How Your Birth Month Actually Affects Your Life
Jeg er b*tchen til Isak i én dag
NRK Unormal
Ganger 44 k
A Caves & Cliffs Announcement
Ganger 2,2 mill
How Your Birth Month Actually Affects Your Life
Justin Bieber - Peaches ft. Daniel Caesar, Giveon
Bab Al Hara S11 مسلسل باب الحارة  ـ  الموسم 11 الحادي عشر ـ الحلقة 1 الاولى كاملة  ـ
Kaband Art Production | قبنض للإنتاج والتوزيع الفني
Ganger 541 k