Keith Gill, better known for his nickname Roaring Kitty in the meme stock trading arena, is now on the verge of blocking his account by E*Traded, a broker owned by Morgan Stanley. The move comes after Gill made a major investment in stocks and GameStop call options, sparking fears of market manipulation.
Reported by the Wall Street Journal, quoted from CoinGape, Keith Gill, or DeepFuckingValue on Reddit, posted a screenshot showing a massive investment in GameStop. The screenshot shows that Gill controls 5 million GameStop shares and holds 120,000 call options at a strike price of 20 US dollars (approximately IDR 38.9 billion) to expire on June 21.
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The option was reportedly purchased for about 5.68 US dollars (around Rp92,101) per option. This announcement sparked a surge in GameStop share prices, which rose by about 30% at the start of trading on Monday.
Morgan Stanley's global financial crime team, as well as their outside advisers, are closely monitoring Gill's account behavior. Although no decision has yet been made, the broker is considering closing Gill's account. E*Trad did not provide a public statement, citing the company's policy of not disclosing information about certain clients.
Gill's latest activity has revived the meme stock trading hype, which previously peaked in 2021. His involvement in the Gamestop trading scandal at the time led to congressional hearings and various class-action lawsuits.
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