Meme stocks stumble after GameStop discloses SEC probe into the frenzy

GameStop Corp. GME, +0.85% disclosed late Wednesday that the U.S. Securities and Exchange Commission has asked for its cooperation with an investigation into the unprecedented volatility its stock has seen in recent months. The company also suggested it’s not the only one being probed.

It wasn’t alone. Shares of AMC Entertainment Holdings Inc. AMC, -10.37% fell as much as 8.3%, BlackBerry Ltd. BB, -4.05% 5.2%, Koss Corp KOSS, -7.09% 1.3%, and Nokia Corp. NOK, -1.61% 0.9% in extended trading following the news, with many investors already bracing for SEC commissioner Gensler to take a closer look at the meme stock phenomenon.

While one of the SEC’s primary roles has been to protect retail investors, some investors gathered on social media platforms Wednesday afternoon sounded less than overjoyed by potentially more oversight of meme stocks. “Gary Gensler released statements about reviewing payment for order flow,” said TheIncredibleNurse on Reddit board Superstonk. “We heard them before but now seems [more] official. Maybe the SEC will do something [after all], eventually, once they close Pornhub.”

THE FUD is real. You all know Shitadel OWNS MarketWatch, don't you? The same people that the SEC will be going after. See the REAL story here:

Also, GameStop has more votes from shareholders than shares and AMC has 4.2 million individual retail investors , me thinks synthetic shares are everywhere. Squeeze time

Why in the title your misleading people to think that the Sec is probing the retail investor? NakedShorts

WeOwnTheFloat AMCSqueeze

The Reason the SEC is probing GME is because of naked short selling. Speaking of naked short selling, Hedge funds are currently shorting every ETF containing GME in after hours to scare people out. More fuel for the rocket! 🚀 GME to the moon! 🚀

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