TechFlow News — According to The Wall Street Journal, Roaring Kitty (Keith Gill), the YouTube influencer who once helped fuel the GameStop stock surge, may be banned from trading by retail brokerage platform ETrade.
People familiar with the matter said that ETrade, owned by financial giant Morgan Stanley, is increasingly concerned that his recent purchases of GameStop (GME) shares could constitute stock manipulation. Since Roaring Kitty reappeared on Twitter (now X) in mid-May, Morgan Stanley employees have been monitoring his ETrade account. They found that he had bought call options before posting tweets, and his trades may have profited from the stock volatility triggered by his posts. With renewed frenzy around GME, ETrade appears to be considering halting Kitty's trading activities.
Morgan Stanley has brought in its financial crimes unit and external advisors over the issue, but the firm is aware that taking action would mean "drawing the attention of his meme army." Employees at Morgan Stanley also worry that shutting down Kitty’s account could lead to a loss of ETrade customers.
