![Keith Gill Boosts Gamestop Stake, Becomes Fourth Largest Shareholder Keith Gill Boosts Gamestop Stake, Becomes Fourth Largest Shareholder](https://static.news.bitcoin.com/wp-content/uploads/2024/06/6-4-news-bytes-768x432.png)
The trading platform is reportedly concerned that the veteran meme stock trader could use his influence to pump his own GameStop holdings.
Online brokerage platform E*Trade is reportedly considering removing GameStop (GME) meme stock trader Keith Gill, known as “Roaring Kitty,” off its platform over concerns of potential stock manipulation.
Before Gill suddenly returned to X last month — which sent shares in GameStop surging — he bought a large volume of GME options on E*Trade. Some of these expired that week and likely netted him a profit, The Wall Street Journal reported on June 3, citing people familiar with the matter.
The firm and its owner, Morgan Stanley, are concerned Gill can use his influence to pump GME for his benefit and are debating whether recent posts on X and Reddit could be considered manipulation, the sources said.
Keith Gill, the trader linked to the 2021 GME short squeeze, has returned to Reddit claiming he’s made a big bet on GameStop, sending the stock’s price surging overnight markets.
GameStop (GME) surged over 19% in overnight trading after Keith Gill, known as “Roaring Kitty,” posted to Reddit that he’s holding $181.4 million worth of GME stock and call options.
Gill, the trader widely cited as a major influence on the 2021 GME short squeeze, posted to Reddit on his “DeepFuckingValue” account on June 2 for the first time since April 2021.
He shared a screenshot apparently showing he purchased 5 million GME shares for $115.7 million and put $65.7 million into call options, betting that GME would be at least $20 a share on June 21.