E-Trade is having internal discussions about whether to ban Keith Gill — the meme stock trader who just disclosed a big position in GameStop — from the trading platform over concerns regarding potential market manipulation, the Wall Street Journal reported Monday.
The brokerage, owned by Morgan Stanley , hasn't reached a decision yet, the Journal said, citing people familiar with deliberations inside the firm.
GameStop shares shot up early Monday after Gill, who goes by "DeepF------Value" on Reddit, posted a screenshot of what could be his portfolio holding a significant amount of GameStop common shares and call options.
The meme stock mania in 2021 led to a series of congressional hearings, including testimony by Gill, around brokers' practices and gamifying retail stock trading.
Gill also faced several class action lawsuits, including one alleging that he pretended to be a novice trader despite being a licensed professional.
Persons:
Keith Gill, Morgan Stanley, hasn't, Gill, DeepF, Morgan, May Gill
Organizations:
GameStop, Wall Street, CNBC, MassMutual