'Dumb Money' follows Keith Gill and the GameStop stock surge — here's where the financial analyst and YouTuber is now
- A movie following 2021's GameStop stock frenzy, "Dumb Money," is in theaters now.
- Financial analyst Keith Gill inspired a huge interest in the stock after pouring more than $50,000 into it.
Sony Pictures' "Dumb Money" follows the man at the center of GameStop's stock surge in 2021.
Former Mass Mutual financial analyst Keith Gill, played by Paul Dano, gained online followings for his YouTube persona, Roaring Kitty, and on Reddit under the username DeepFuckingValue where he openly shared his personal stock strategies and spreadsheets, explaining why he believed GameStop was undervalued by hedge funds who bet the company wouldn't perform well in the future.
Gill originally invested $53,000 of his life savings into GameStop stock when it was around $5 per share in 2019, but as he gained a following, more everyday people — retail traders — began buying the stock, eventually resulting in a rapid, exponential rise in the stock.
Though Gill received a subpoena to testify before Congress about his involvement in the GameStop stock frenzy, the ending of "Dumb Money" makes it look like everything turned out really well for Gill and his family. However, the reality of that is unclear.
What actually happened to Keith Gill?
The movie claims Mass Mutual gave Gill an ultimatum of resigning or getting fired from the company. He chooses to resign.
It was never reported whether or not he was given a choice between getting fired or resigning.
In February of 2021, Gill and Mass Mutual were sued in a lawsuit that alleged he caused "huge losses" for investors and violated securities laws. Gill said he didn't break any laws, explaining his YouTube channel was "for educational purposes only" and that he didn't use social media to promote the stock. This lawsuit was dismissed.
That same month, Gill was called to testify before Congress in a hearing titled, "Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide," in which he memorably explained his stance on GameStop simply as, "I like the stock," and, at another point, stating, "I am not a cat."
He also testified that he didn't "solicit anyone to buy or sell" GameStop stock for his own profit. Part of this is adapted in the movie.
In September 2021, Mass Mutual was fined $4.75 million as part of a settlement for failing to supervise Gill's trading and online activity.
A month later, the Securities and Exchange Commission decided no market manipulation occurred with the trading of GameStop or any other meme stocks.
Where is Gill now?
The Massachusetts native is no longer a registered financial broker.
His final public YouTube post, titled "Cheers Everyone!," was shared in April 2021. Gill still retains over 500,000 subscribers.
Reuters reported in 2022 that Gill had since removed himself from the public eye.
Gill has a child with his wife, Caroline, who he married in 2016. In "Dumb Money," Caroline is played by Shailene Woodley.
Did Keith Gill sell his GameStop stock and make money?
At the end of "Dumb Money," Gill considers selling his stock but he buys more instead. It's also implied that he may have sold some stock since his brother, Keith (Pete Davidson), is shown being gifted a brand-new sports car.
The movie claims that, as of April 2021, Gill was worth $34 million.
It's true that at this time, Gill exercised GameStop call options that otherwise would have expired and bought additional shares, bringing his total share count to 200,000.
Those who have followed the saga are split on whether Gill ever sold any of the stock or if he's still holding onto most of it.
Some believe he's lying low after selling some since his large following came from holding onto GameStop.
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