E*Trade reportedly weighs ban on ‘Roaring Kitty’ after meme trader reveals $116M GameStop bet

E*Trade is reportedly considering a ban on “Roaring Kitty” after the famed meme stock trader once again sent GameStop shares surging dramatically on Monday, according to a report.

Shortly before he sparked a renewed trading frenzy in GameStop shares last month, “Roaring Kitty,” whose legal name is Keith Gill, bought a “large volume” of GameStop options on E*Trade, The Wall Street Journal reported on Monday, citing unnamed sources.

This past weekend, Gill posted a screenshot of his account showing that he owns $116 million worth of GameStop stock as well a new trove of options that expire later this month. His total gains on the position stood at $6.86 million, according to the screen shot.

Gill, who is known on Reddit as “DeepF–kingValue” and who goes by “Roaring Kitty” on X and YouTube, sent GameStop shares soaring 75% in early trading Monday with his latest post. The shares closed 21% higher.

The wild moves have sparked market manipulation concerns at E*Trade, according to the Journal, with executives at the Morgan Stanley-owned day-trading platform concerned at the outsize power Gill can wield over markets for his own benefit, according to the report.

Nevertheless, company executives are caught in a “debate” about whether to clamp down on Gill — and “whether or not the firm is willing to risk drawing the attention of his meme army by removing him,” the paper reported, citing unnamed sources