Keith Gill, who is considered as the “big brother” of GameStop’s air war
The recent surge in the share price of GameStop, a distributor of video games in the United States, in late January of this year, with a surge of more than 1,000% in just 2 weeks, the U.S. stock market staged a play in which small retail investors fought against the big whales of Wall Street, and the army of retail investors gave a heavy punch to the Wall Street giant. However, Keith Gill, who became famous in this short sale, was disqualified as a financial broker by FINRA.
Gill used accounts such as “Roaring Kitty” and “DeepF***ingValue” to encourage retail investors to buy GameStop stocks on the Internet, and became the central figure in the GameStop short selling campaign. He became the central figure in GameStop’s short-selling campaign, and was seen as the “lead” of GameStop’s short-selling campaign as GameStop stock soared more than 1,000% in just 2 weeks under the retailer frenzy. However, Gill is also facing a class action lawsuit accusing him of pretending to be a retail investor and using the online platform to maliciously manipulate the stock price.
According to Reuters, data from the Financial Industry Regulatory Authority (FINRA) shows that Gill is no longer licensed as a registered financial broker. The loss of his broker status means he is no longer able to buy or sell securities on behalf of clients, nor is he able to act as an advisor to investors and provide securities-related advice to clients. Gill was formerly a registered agent with MML Investors Services LLC, which filed a request to cancel Gill’s registration with FINRA on the 26th of this month, saying it was conducting an internal review operation of Gill’s outside activities.
A FINRA spokesperson did not comment further on the license revocation, saying only that a person’s registration status is cancelled when he or she is no longer employed under the registered firm. Gill himself has not yet responded to the matter.
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