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02/06/2021 17:22

Subject: Gamestop

quote

Anonymous

Anonymous wrote:

Anonymous wrote:I thought the SEC put a freeze on shorting GME this week, in anticipation of the free fall.

What's disturbing is the media is reporting Yellen is looking to investigate the Reddit kids who gleefully shared information with each other - but she's evidently not going to go after wall street despite their obvious manipulation of the investing platforms and the market itself for their own gains.

Sources? None of this seems like the responsibility of the Federal Reserve. Should be SEC, not Treasury.

Here you go:

"...(Bloomberg) -- U.S. Securities and Exchange Commission investigators are combing social media and message board posts for signs that fraud played a role in dizzying stock swings for GameStop Corp., AMC Entertainment Holdings Inc. and other companies, according to people familiar with the matter.The scrutiny is being done in tandem with a review of trading data to assess whether such posts were part of a manipulative effort to drive up share prices, said the people, who requested anonymity because the review isn’t public. The regulator is specifically on the hunt for misinformation meant to improperly tilt the market, the people said..."

https://finance.yahoo.com/news/sec-hunts-fraud-social-media-192424385.html

"..Long before an army of small investors buying shares of GameStop shocked Wall Street, regulators saw the need for a clearer, real-time view of the trillions of dollars that sloshed through the markets each day....Regulators aren’t waiting for an authoritative timeline of the market frenzy apparently initiated by amateur traders organizing on the Reddit forum r/WallStreetBets. As soon as Thursday, Treasury Secretary Janet Yellen is convening leaders of the SEC, the Federal Reserve, the Federal Reserve Bank of New York and the Commodity Futures Trading Commission to review the matter...Regulators face questions about whether the apparently amateur trading crowd’s activities amounted to illegal market manipulation — and if sophisticated professionals used the cloak of online anonymity to stoke the frenzy. The SEC already is sifting through social media and message boards for evidence of such efforts, Bloomberg News reported Wednesday..."

https://www.washingtonpost.com/business/2021/02/03/gamestop-sec-regulation/