E*Trade Looking to Drop Roaring Kitty Following GameStop Posts, Report Says

E*Trade Looking to Drop Roaring Kitty Following GameStop Posts, Report Says

Keith Gill, the popular investor who sparked the skyrocketing of GameStop’s stock back in 2021 and appears to be back at it again, might have his E*Trade account shut down, according to a report from the Wall Street Journal Monday. The stock trading platform and its owner Morgan Stanley reportedly have concerns about possible stock manipulation, sources familiar with the matter told the Journal.

Gill, who’s known best as Roaring Kitty, began tweeting on his account on May 12 after almost three years of silence. Most of the posts consist of memes or video clips so it’s unconfirmed if Gill is the one in control of the account. His account on Reddit has also begun posting screenshots of his portfolio with E*Trade showing various bets on GameStop with a screenshot from Tuesday showing his assets valued at $US289 million.

Morgan Stanley did not have a comment when asked for confirmation of the report. Gill didn’t immediately respond to a direct message sent over X.

Since the Roaring Kitty account restarted, GameStop stock has taken off, but not nearly the same as it did back in 2021. The video game retailer’s stock was trading at just over $US17 on May 10 and shot up to almost $US65 on May 14, two days after the May 12 post. Since then, the stock has been steadily losing value only to then jump in price again on Monday following another post from the Roaring Kitty account.

While Gill could be making hundreds of millions from his recent stock bets, it’s very unlikely we’ll see another instance of GameStop’s shares reaching $US483 as it did in 2021. Back then, it was in the middle of the pandemic so people were at home paying where they could pay attention to finance moves like that and also were sitting on extra money thanks to various stimulus checks.

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