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SEC reportedly probing whether fraudulent social media posts boosted GameStop
- mssundaram 6y agoThis is very backwards, or at least only half of what they should be doing. Investigate the hedge funds!
- ipnon 6y agoLet's ask the question the SEC is asking: what is the law and who, if anyone, violated it?
- koolk3ychain 6y agoSEC reportedly probing whether fraudulent media posts were actively supporting the interests of huge hedge funds. Oh wait...
- gruez 6y agoYou do realize that "hedge funds" isn't a monolithic entity right? There are hedge funds that are long, as well as short.
- koolk3ychain 6y agoI'm going to assume in good faith you understand what satire is.
- salawat 6y agoI don't think anyone but the institutions realistically can or should be able to be charged. Fraud requires reliance on the information. No one on social media was selling a product, and there was a very clear intent amongst many that while it may have been intended to hurt hedge funds, it was all about taking the stand. That's speech. WSB is not your or anyone's agent in the long run. Now I'd like to know who was funding the Silver thing. If that can be traced back to a hedge fund or financial institution who should all know better than to do something like that, then you may have got a case. If it was just the media and a woeful lapse in journalistic integrity... Well... Back to speech again.