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GameStop Stock Redditor Testifies Before Congress In Slick 'Game of Thrones' Chair

GameStop Stock Redditor Testifies Before Congress In Slick 'Game of Thrones' Chair

There really is a first time for everything.

Ewan Moore

Ewan Moore

If I had to level one complaint at your standard Congressional hearing, it would be that the chairs are far too plain. Just a bunch of old dudes sitting in boring chairs being boring. Lame.

That's why it was so refreshing to see a break from tradition earlier this week. Keith Gill, the Redditor/YouTuber considered to be one of driving forces behind the incredible GameStop stock market surge of January 2021, testified before the House Financial Services committee on Thursday afternoon. As reported by Polygon, this is quite possibly the first time ever the House has take sworn testimony from a witness seated in a Game Of Thrones-themed Secretlab OMEGA chair (RRP £329, retail fans).

The 34-year-old Gill is thought to have made millions as he and a slew of amateur investors on the WallStreetBets subreddit worked to boost GameStop's share price up almost 1,600%, using a technique that absolutely battered a number of corporate investors, costing a lot of major players millions in the process. Gill has since been named in a class-action lawsuit that claims he manipulated the market for his own ends. I'm genuinely not sure how that's different from what Wall Street has been doing for decades... other than the fact Gill wasn't supposed to know how to win.

To the House committee, Gill explained that he invested in GameStop shares because he believes in the company and its potential "The market was underestimating the prospects of GameStop's legacy business in overestimating the likelihood of bankruptcy," he said in a statement. "I grew up playing video games and shopping at GameStop and I plan to continue shopping there. GameStop stores still provide real value to consumers in reliable revenue for GameStop."

Gill also refuted claims that he manipulated his followers on YouTube and Reddit. "The idea that I use social media to promote GameStop stock to unwitting investors and influence the market is preposterous," Gill told the committee. "My post did not cause the movement of billions of dollars into GameStop shares. It is tragic that some people lost money in my heart goes out to them. But what happened in January just demonstrates again, that investing in public securities is extremely risky."

Tuesday's lawsuit alleges that Gill's GameStop share holdings at one point reached a peak of $48 million, although Gill explained on Reddit this was a "paper value" and that he was only able to cash out $13 million. "Only".

Featured Image Credit: House Financial Services Committee via YouTube/Secretlab

Topics: gamestop, News, Game of Thrones