Online broker ETrade is considering banning Keith Gill, known as "Roaring Kitty," who became famous in 2021 for his involvement in the GameStop stock trading frenzy. This potential decision has sparked outrage on social media, with users calling for a boycott of ETrade and threatening to close their accounts. Many social media users view this situation as another instance of large Wall Street institutions taking advantage of small retail investors. This is similar to the 2021 incident when Robinhood limited purchases of heavily traded stocks, including GameStop, due to volatility. Supporters of Gill have suggested that if ETrade bans him, all retail investors should abandon the platform.
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00:00It's Benzinga, and here's what's on the block.
00:02Online broker E-Trade is considering banning
00:05a kiddo known as Roaring Kitty who became famous in 2021 for his involvement in the
00:09GameStop stock trading frenzy. This potential decision has sparked outrage on social media,
00:14with users calling for a boycott of E-Trade and threatening to close their accounts.
00:19Many social media users view this situation as another instance of large Wall Street institutions
00:25taking advantage of small retail investors, similar to the 2021 incident when Robinhood
00:30limited purchases of heavily traded stocks, including GameStop due to volatility.
00:35Supporters of Gil have suggested that if E-Trade bans him,
00:38all retail investors should abandon the platform.
00:40For all things money, visit Benzinga.com