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SEC slams Reddit meme stock players in PSA

derrybderryb Posts: 36,025 ✭✭✭✭✭
edited June 2, 2022 3:28PM in Precious Metals

Public Service Announcement appearing on CNBC. Probably not a good idea to pi$$ off the group that brings turmoil to the market by heavily buying shorted stocks like GameStop. SEC's PSA response validates the groups influence on volatility and the threat they pose.

Because meme stock investing is changing investing behavior, I strongly suspect the SEC is speaking out to protect hedge funds who take a whipping on the meme stock shorting.

https://youtu.be/av3k_lcGm9g

The decline from democracy to tyranny is both a natural and inevitable one.

Comments

  • Mike59Mike59 Posts: 294 ✭✭✭

    Agree 100%. Another meme stock is AMC. December of 2020 stock was $4.00 ran all the way up to the $70’s. They killed it by restricting access to margin and trading & stock dropped back to the twenties. It’s what happened next that the most telling ( remember that this is a movie theater chain and we had Covid lockdowns). All of a sudden the two largest money managers based on assets bought 90 million shares and State Street also bought 13 million shares. Now every time this stock starts to run up it’s knocked down. Could these 3 companies be dumping shares ?? Makes u think

    MIKE B.

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