‘Reddit Rebellion’ drives GameStop to rally again, while US regulators eye wild trading

The SEC issued a rare joint statement from its acting chair and commissioners that said it was working closely with other regulators and stock exchanges “to protect investors and to identify and pursue potential wrongdoing” and would “closely review actions ... that may disadvantage investors” or hinder their ability to trade stocks.

All three main indexes suffered their biggest weekly fall since the end of October on Friday, closing down around 2 per cent.The surge in volatility has led to a huge increase in volume, totaling over 20 billion shares in each of the past two sessions across US exchanges for the most active trading days on record going back to 2014, according to Refinitiv data.

GameStop marked a near 400 per cent weekly gain, eclipsed by Koss’s 1,800 per cent week. AMC Entertainment rose 54 per cent on Friday, and was up 278 per cent for the week, while Express added almost 28 per cent. London-based trading platform Freetrade disabled buy orders for US stocks but will allow users to exit positions.

Typical corrupt system. Let Wall Street do whatever they want but step in when retail traders make money. Wrong doing?....start with the hedge funds.

what about the bankers ?

Unlike say superannuation funds hedge funds (or 'the dark side' as we used to call them) do not operate for anybody else's benefit but their own. If they go under the worst that happens is the price of real estate and yachts in Monte Carlo falls.

The exchange never had a problem with Short sellers driving down prices and publishing negative articles about their targets until the prices crashes . Then cashing out at a profit. Seems they don’t like it when someone calls their bluff.

And nothing will happen because the fat cats in the SEC and gov in general have their fingers in the hedgies' pockets. 'You scratch my back, I'll scratch yours'

But they won’t do anything about the hedge funds that sold naked shorts. Wonder why Elon muck told the sec to suck his wang?

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