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! 🚀

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SEC Pursuing Broad Review of Stock Market Structure, Chairman SaysThe SEC is pursuing a broad review of how stocks are traded and priced, including incentives to attract orders, Chairman Gary Gensler said Profits thanks to the free weekly research provided by For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her Alex_jnns01 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success Good. Corruption in markets just decreases the amount invested in them.
Source: WSJ - 🏆 98. / 63 Read more »

SEC plans to go after market manipulation on social media, executive insider trading, Gensler saysSEC Chairman Gary Gensler said his agency is focused on adopting new rules to guard against company executives using private information to opportunistically sell shares of companies they oversee. elonmusk wow 😂 How about we guard against regulators that are worthless and not doing their job?
Source: MarketWatch - 🏆 3. / 97 Read more »

AMC, Other Meme Stocks Turn Options Market Upside DownThe meteoric rally in meme stocks such as AMC and GameStop has unleashed a burst of options trading, upending traditional dynamics in the market for stock bets. stocks even have meme,, where this stocks got idea ? Market for stock bets is an admission that Wall Street is a casino. Pakistani Ph.D. students studying n China r stuck & can’t go back to China to continue their studies. We appeal to the Chinese govt & foreign ministry of Pakistan to save their future & solve this problem.
Source: WSJ - 🏆 98. / 63 Read more »

Wall Street closes little changed as “meme stocks” extend rallyWall Street stocks struggled for closing gains on Tuesday as a lack of clear market catalysts kept institutional investors in a holding pattern, while retail traders kept the rally of so-called meme stocks alive.
Source: Reuters - 🏆 2. / 97 Read more »