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Keith Gill, aka Roaring Kitty, faces a lawsuit alleging he manipulated GameStop's stock price for personal gain.
The post Roaring Kitty hit with new lawsuit over alleged GameStop pump-and-dump scheme appeared first on Crypto Briefing.
Keith Gill — also known as "Roaring Kitty" — has become a hero of the people, but he is also a menace to stable markets.
In terms of entertainment value, the reappearance of vigilante investor Roaring Kitty has been a highlight of the year so far. The enormous volatility and questionable trading it has prompted, though, is not something to be celebrated — indeed, it is a worrying signal.
Kitty, real name Keith Gill, emerged from retirement on May 13, delighting keyboard warriors everywhere and causing a 180% surge in GameStop’s stock, which flew from $17.46 to $48.75 by the close of trading on May 14.
Just a few days later — on May 17 — the firm announced it had sold 45 million shares, capitalizing on the pump to raise nearly $1 billion for the treasury. At the same time, preliminary results predicted losses of between $27 and $37 million for the previous quarter.
Beeple's latest NFT artwork, depicting a cat resembling Roaring Kitty being killed, has sparked controversy and speculation amid the ongoing GameStop frenzy and discussions surrounding meme coins.
The post Beeple’s jab at Roaring Kitty sparks speculation amid GameStop frenzy appeared first on Crypto Briefing.
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.