Following a report that E*Trade may kick meme stock guru Roaring Kitty off its platform, some of his fans have questioned whether his supposed market manipulation isn't exactly what politicians and Wall Street traders do daily.
Top leaders at the Morgan Stanley-owned brokerage are concerned that Roaring Kitty, whose real name is Keith Gill, has outsized online influence that could lead him to manipulate stocks for his own benefit, the Wall Street Journal reported, citing people familiar with the matter. Those weighing the decision at E*Trade and Morgan Stanley were particularly worried about a large sum of options Gill bought just before he helped bring the GameStock trade back to life with his first social media post in years last month. Now, this week, a screenshot of Gill’s brokerage account showed that he had $260 million in play on the stock.
