Meme-stock traders on subreddits like “Wall Street Bets” and “Superstonk” are complaining that the latest entries in the SEC’s “Investomania” series of YouTube videos are insulting and even hypocritical.
A small but vocal group of Redditors has taken umbrage at the Securities and Exchange Commission’s latest attempt to “educate” retail investors.
“The whole entire market is a meme stock, to label small-mid cap stocks as meme stocks is manipulation in itself through fomentation. If the SEC did any research, they would know that most of the ‘meme stocks’ were pump and dump via Silicon Valley algorithms and hedge funds to regain liquidity from their short position losses and risky bets,” wrote the Redditor “Thorbeans.”
The videos close with the same voice over: “Investing is not a game, always do your research before making an investment decision. Learn more at investor.gov.”
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