In February 2021 the most-watched retail investor in America testified to Congress in a jacket and tie. Behind him on the wall, a kitten was hanging on by one paw.
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RecHouse Committee on Financial Services · Virtual hearing02.18.2021
The cat
The cat on the wall
On February 18, 2021, the most-watched retail investor in America testified to Congress in a jacket and tie. Over his shoulder hung a kitten, holding on by one paw.
1971Los Angeles
Hang in there, baby
The poster is older than the internet. Photographer Victor Baldwin had a picture of his Siamese kitten, Sassy, clinging to a bamboo pole. In 1971 he printed it as a poster with four words under it: hang in there, baby.
It was one of the first motivational posters, and for decades it hung in offices and dorm rooms, wherever somebody needed to hold on a little longer.
Jan 2021The squeeze
The stock nobody could short
Retail traders piled into GameStop against the hedge funds betting it would fall. The stock rose nearly 2,000% in January, then fell back hard. Many who bought near the top were sitting on deep losses.
Feb 18 2021The hearing
"I am not a cat"
The House Financial Services Committee called a virtual hearing titled "Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide." Robinhood's Vlad Tenev, Reddit's Steve Huffman, Citadel's Ken Griffin and Melvin Capital's Gabe Plotkin testified.
So did Keith Gill, the YouTuber known as Roaring Kitty, by video from a gaming chair. He wore a jacket and tie. On the wall behind him hung a poster of a kitten dangling by one paw over the words "Hang in there!", with his red headband looped over it. He opened with "I am not a cat." Then he said the line people still quote.
"I like the stock."
Keith Gill, testifying to the House Financial Services Committee, February 18, 2021
The messageRead by holders
Hold on
Reuters described the poster as an apparent message to fellow GameStop investors, many of them in the red. Holders took it the way it was hung. A kitten on a rope is a joke about a hard spot, and it's also advice: the drop looks long, the grip looks small, and the cat holds on anyway.
Since then it has been shorthand for holding through the red, for GameStop and for any market that has tested somebody's patience.
Now$HANG
The poster, back on the wall
$HANG puts the cat back up with one change: holding pays. The fees from every trade go to holders, and pump.fun sends them as GMEx, the tokenized GameStop share on Solana. The counter on the home page adds up every payout.