Reddit’s army of retail investors -- aka 'Apes' -- found fellowship in a 7-foot bronze statue Tuesday.
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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SEC GameStop report debunks conspiracies, backs commission chief's planWall Street's top regulator has issued its report on the extraordinary episode that saw retail traders taking on hedge funds, sending shares of GameStop and other meme stocks into the stratosphere.
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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.
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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.
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Bitcoin funds are reaching the masses. Why crypto critics say it’s dangerousThe Securities and Exchange Commission is beginning to bless the first widely available investment funds that track Bitcoin, opening a rift with watchdog groups who argue increased exposure to the volatile market puts consumers at risk
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European markets head for positive open following global gainsEuropean stocks are expected to open higher on Tuesday with markets buoyed by positive global sentiment.
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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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