E-Trade mulls booting meme stock trader Roaring Kitty: WSJ
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.
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Author: Jesse Coghlan
