SEC Closes Investigation Into GameStop Stock Fiasco
The SEC has investigated so called “meme stocks,” such as GameStop’s epic run, ultimately deciding there was no wrongdoing. GameStop made headlines early this year when its stock skyrocketed. The frenzy was driven by investors on Reddit pumping the stock. AMC, Blackberry and Bed Bath & Beyond also saw their stocks driven up, thanks to individual stock traders. The phenomenon cost Wall Street who had shorted the stocks billions of dollars. The SEC investigation, however, has proven the buying frenzy was driven by individual investors, meaning there was nothing illegal about the trend…no matter…
Read More