'E*Trade Owner Morgan Stanley Raised Internal Concerns About Gill's GameStop Trading; Considering Removing Keith Gill From Platform; Gill Bought Large Volume Of GameStop Call Options Before May Rally' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley, the owner of E*Trade, has raised internal concerns about Keith Gill's trading activities involving GameStop (GME). The firm is considering removing Gill from its platform after he bought a large volume of GameStop call options before the May rally.
June 03, 2024 | 7:42 pm
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NEGATIVE IMPACT
Morgan Stanley is considering removing Keith Gill from its E*Trade platform due to concerns over his GameStop trading activities. This could impact the firm's reputation and regulatory scrutiny.
The potential removal of a high-profile trader like Keith Gill could lead to negative publicity and increased regulatory scrutiny for Morgan Stanley, potentially affecting its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Keith Gill's large volume purchase of GameStop call options before the May rally has raised concerns at Morgan Stanley. This news could lead to increased volatility in GameStop's stock price.
The news of Keith Gill's significant trading activity in GameStop options could attract more attention to the stock, potentially leading to increased volatility and trading volume.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100