Sources: E*Trade is weighing kicking meme stock leader Keith Gill off its site over GameStop stock manipulation concerns; GME is up 60%+ since Gill reappeared
Morgan Stanley's trading platform discusses concerns about possible manipulation in GameStop — E*Trade is considering telling …
The immediate significance is not a new restriction on GME trading but the possibility that a brokerage could act against a prominent customer whose public reappearance coincided with a sharp move in the stock.
First-order effects
E*Trade must weigh its customer and reputational exposure against its concerns about potential manipulation; Keith Gill could lose access to the platform if it proceeds.
GME traders face renewed uncertainty around how closely brokerages may monitor activity linked to highly visible social-media figures.
Any platform action could intensify debate over whether brokerages are managing market-integrity risk or limiting retail participation during volatile rallies.
Third-order effects
If brokerages increasingly treat influential traders as platform-risk cases, retail investing platforms may adopt more explicit rules separating permitted commentary from conduct they view as market manipulation.
The episode underscores an unresolved structural tension: social distribution can rapidly mobilize trading interest, while enforcement and brokerage controls remain centered on individual accounts and transactions.
The trend: Retail brokerages are moving toward tighter governance of the market effects created when influential online personalities and commission-free trading platforms converge.
I declare I've seen a lot of stupid takes over my career, many in the last few years, but E Trade threatening to shut down Keith Gill's account because of “potential ” manipulation is the dumbest Fucking shit I have have seen. That's right, I typed the goddamn words out fully,
What made Keith Gill aka Kitty interesting initially was his authenticity. He shared a detailed investment thesis and put his money where his mouth was, which combined with a high short interest and a restless country and boom.. investing history. This time it feels different
think how early we are in the ‘degenerate economy’ when etrade wants to kick Keith Gill meme instigator off the platform what are they going to do when there are 100k Keith's and Netflix has their own Degenerate Squawkbox https://www.wsj.com/...
If a hedge fund guy said everyone should sell $GME or $AMC, it would be “advice”. But a guy on @x & @reddit who's just holding his shares is “manipulation”. Fuck @etrade and @MorganStanley, the institution is just a criminal mob. https://www.wsj.com/...
Big scoop from my colleague @AAndriotis: E*Trade is considering booting Keith Gill off its platform after he bought GameStop call options ahead of tweets that reignited the $GME rally in May; trades sparked internal debate over they were manipulative https://www.wsj.com/...
WTF? Is Morgan Stanley also going to kick off the hedge fund managers who go on CNBC to pump their book? Insane double standard here. https://www.wsj.com/... [image]
My most curmudgeonly view is that Something Must Be Done to get these degenerate gamblers out of capital markets so that stocks can be priced Properly, in accordance with the net present value of future cashflows, as God intended. https://www.wsj.com/...