Keith Gill, AKA 'Roaring Kitty', is a key player in the GameStop trading frenzy, and among his latest troubles, is the Financial Industry Regulatory Authority's termination of his broker registration. After being fired by Massachusetts Mutual Life Insurance Co's subsidiary, MML Investors Services, and being sued, Gill is no longer able to act as a broker, buying and selling securities on behalf of clients or as an investor advisor.
Roaring Kitty on YouTube uses the handle 'DeepF***ingValue' on Reddit, and became a central figure on the social media platforms after sharing with his following information on the company GameStop. While Mr. Gill says he used publicly available information to determine that the failing company was undervalued, he is being accused of duping investors into buying inflated stocks while concealing his sophisticated financial history.
"I was abundantly clear that my channel was for educational purposes only, and that my aggressive style of investing was unlikely to be suitable for most folks checking out the channel." - Keith Gill
The accusation of Market Manipulation in the "Reddit Rally" is quite the opposite of others, who count GameStop's stock performance as a win for the common man. As we continue to watch GameStop and those being investigated, it is important to question what the role of government is to interfere in the market. Market Making is a regulated activity, where large financial institutions can buy, sell, or trade, massive portions of industry sectors, and influence the outcomes of the market. It then begs the question, what is the difference between major institutions and the common retail investor to dictate how they would like a company to be valued, or perform on the stock markets. markexchange.
Let's keep watching.