E*TRADE considering removing Roaring Kitty (i.e..Keith Gill) off trading platform

The Wall Street Journal is reporting:

• E*Trade Concerns: E*Trade is considering barring Keith Gill, known for his influence on meme stocks, from its platform due to concerns over potential stock manipulation related to his recent GameStop options purchases.
• Internal Debate: E*Trade and Morgan Stanley are debating whether Gill’s actions constitute manipulation and whether to remove him from the platform, weighing the risk of backlash from his followers.
• Regulatory Attention: The SEC is reviewing trading in GameStop call options around the time of Gill’s social media activity, considering potential manipulation.

Gill bought a significant amount of GameStop options on E*Trade, which led to a surge in GameStop stock, with his holdings now valued at $115.7 million and total gains of $6.86 million.

GameStop shares are trading at $27.73 up $4.60 or 19.88%. At session highs at today, the price was up $17.36 at $40.50.

This article was written by Greg Michalowski at www.forexlive.com.