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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m calling it: this dude will spend quality time in Club Fed in a few years [/quote]

He was already cleared by the SEC after his first big coup on GME three years ago. He had no inside info; in fact, the company was completely taken by surprise. He just thought it was a good value (at the time) and he was a popular contributor on Reddit.

This guy just understands the power of meme stocks, herd behavior, and how personalities can move the markets. He knows the Reddit masses will follow him to push up the price of shares. [/quote]

Remember that you can be convicted of insider trading without true inside information from the company. Foster Winans got convicted for violating the WSJ’s internal policies by trading in advance of his columns.  Pump and dump is a thing.[/quote]

In other news, our very own Nancy Pelosi, has a dedicated "fan club" of Reddit traders watching her every move, and watching the trades placed by her DH. Nancy gets access to insider information on companies, and lo and behold, her DH buys the stock. This should be illegal, and probably is illegal, but she's getting away with it.

But sure, go after a young man who happens to be a stock influencer, but has broken zero laws. ZERO laws. As he told Congress, he "likes" the stock.

Incidentally, a couple of weeks ago many trading platforms including Etrade "broke down" the morning when Gamestop stock rose to $80. That was no accident. That was an intentional effort to stop the Gamestop price from skyrocketing any higher. What does the SEC do about this? Are you kidding. The SEC is 100% part of the problem.[/quote]

A stock skyrocketing and crashing in one day, on zero material news, is manipulation, and the SEC’s job is to prevent that.
[/quote]

Hedge funds on the other side of the trade miscalculating their risk is not manipulating stock. [/quote]

This.  Naked short selling by firms is the problem here, not public purchases.

Roaring Kitty did cash out to the tune of $20M+.  You can see his cash holdings via his posts on Reddit.[/quote]

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