SEC slams Reddit meme stock players in PSA
derryb
Posts: 36,823 ✭✭✭✭✭
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"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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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.