GameStop, AMC Rally Fades Amid Reports E*Trade Is Considering Banning Keith Gill


The recent surge in the stock prices of GameStop (GME) and AMC Entertainment (AMC) has shown signs of fading as reports emerge that ETrade is considering banning Keith Gill, a prominent figure in the recent retail investor frenzy. The rally, which drew significant attention from both Wall Street and Main Street investors, was fueled by coordinated buying efforts from online communities including Reddit’s r/WallStreetBets.

Keith Gill, also known by his online alias “Roaring Kitty,” played a central role in promoting GameStop stock through various social media platforms. His enthusiasm and strategic insights reignited interest in the struggling video game retailer and spurred retail investors to buy its shares en masse. This led to unprecedented volatility, with GME shares reaching record highs before experiencing sharp declines.

AMC Entertainment also benefited from the wave of retail investment, as traders sought to replicate the success witnessed with GameStop. The renewed interest provided a temporary boost to AMC’s stock price, helping the theater chain stave off bankruptcy concerns amid the ongoing COVID-19 pandemic.

However, the rally’s momentum appears to be waning in light of potential regulatory actions targeting key individuals involved in the trading frenzy. Reports suggest that ETrade is considering imposing restrictions on Keith Gill’s trading activities, citing concerns over market manipulation and his influence on retail investments. Such measures reflect broader apprehensions among brokerage firms and regulatory bodies about maintaining market integrity during heightened periods of volatility.

As news of these potential restrictions surface, investor sentiment has softened, contributing to decreased trading volumes and retracted gains for both GameStop and AMC shares. While the long-term implications for these stocks remain uncertain, the immediate outlook suggests a cooling down period following weeks of speculative trading activity.

In conclusion, the ebbs and flows of GameStop and AMC stock prices underscore the dynamic nature of today’s financial markets. The actions taken by brokerage firms like ETrade will likely play a pivotal role in determining future investment patterns and regulatory frameworks aimed at ensuring fair trading practices. For now, all eyes remain on how these developments will unfold and their subsequent impact on the investing landscape.


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