Mr. Gill appeared at a congressional hearing about the GameStop frenzy on Thursday where he was asked by a lawmaker if he thought the stock was still appealing. “I do find that it’s an attractive investment at this price point,” he responded.
Reaction to Friday’s post was swift on WallStreetBets, sending Mr. Gill’s post climbing toward the top of the forum’s page. “THE KING IS BACK,” u/falael commented. Some complimented him on his testimony Thursday before the House Financial Services Committee.
“He put his money where his mouth is,” u/Staafen2 commented. “This action speaks more than words said by any bear/bull I have seen here these past few weeks now.”
Mr. Gill has been lauded as a hero among Reddit investors and appeared at Thursday’s hearing from his signature red chair, with a poster of a cat and red headband hanging behind him. He’s known as “Roaring Kitty” on YouTube.
“I’m as bullish as I’ve ever been on a potential turnaround. In short, I like the stock. And what’s stunning is that, as far as I can tell, the market remains oblivious to GameStop’s unique opportunity within the gaming industry,” Mr. Gill said in his written testimony.
To some individual investors, Mr. Gill’s wager is a sign of his “diamond hands,” or ability to hold on to risky bets for long periods.
Mr. Gill also told lawmakers that he acknowledges that his “aggressive style of investing” is probably not suitable for most people.
DeepF—ingValue’s total holdings as of Friday show roughly $17.4 million in his account, including around $11.9 million in cash, $4 million of GameStop shares and roughly $1.5 million in GameStop options contracts.
Mr. Gill had previously said on Feb. 3 that he would be backing off his regular Reddit updates of his GameStop holdings. At the time, the spotlight on him was growing. He now returns to the platform with a much larger following and fan base on social media than he had last year.
