Gary Gensler might not have come through with the regulatory revolution many of them wanted on Monday, but retail investors shrugged off their SEC-sized hangover on Tuesday to enjoy some big gains in big meme names, get high on pot stocks and bathe in a truly delightful visual metaphor on actual Wall Street.
The gorilla, erected by nascent social-networking platform Sapien.Network which also stashed 10,000 bananas under the famously virile bronze bull, is apparently “dedicated to putting the needs and welfare of human beings first.” iframe.twitter-tweet { width: 100% !important; } But it wasn’t just statuary taking a stand on Tuesday.
Reddit and Twitter were also full of speculation that the SEC’s look back at GameStop’s unprecedented move was more proof that short-sellers didn’t cover their bets, despite a passage in the report in which the SEC found that “GME had sharp price increases concurrently with known major short sellers covering their short positions after incurring significant losses.”
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GameStop mania severely tested market system, regulator saysThe U.S. stock market certainly shook when hundreds of thousands of regular people suddenly piled into GameStop early this year, driving its price to heights that shocked professional investors. As GameStop's stock shot from $39 to $347 in just a week, some of the stock market's plumbing began creaking, but the report indicated the market's basic systems and operations remained sound. The surge for GameStop and other downtrodden stocks also laid bare how much power is being wielded by a new generation of smaller-pocketed and novice investors, armed with apps on their phones that make trading fun. Gme
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GameStop mania severely tested market system, regulator saysNEW YORK (AP) — The U.S. stock market certainly shook when hundreds of thousands of regular people suddenly piled into GameStop early this year, driving its price to heights that shocked professional investors. Lol wat? The entire report read like the Reddit stuff that’s been easily available for 5 months publicly. What I didn’t get from the report was accountability or resolution from stopping it from happening again. Tax payers paid millions to get a Reddit form tldr. My god. 'The SEC’s staff said it doesn’t believe hedge funds were broadly affected by investments in GameStop and other meme stocks.' risk control. SOP at these places (yes, they failed in 2008, but for those failures, it takes something large and systematic, not internet memes).
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Futures point to further Wall Street gains as earnings season rolls onU.S. stock futures pointed higher Tuesday, extending gains after the largest four-day stretch of gains since late July for both the S&P 500 and Nasdaq...
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