SEC reviewing GameStop stock frenzy amid market volatility: White House

White House press secretary Jen Psaki on Friday said the SEC (Securities and Exchange Commission) is reviewing the current volatility of the GameStop stock after it rose over a thousand per cent since the beginning of the year following a boost from by small investors on discussion threads such as “WallStreetBets” on Reddit for driving the surge.

Experts are divided on whether the bullish bets placed by traders hanging out on Reddit and other social media platforms amount to market manipulation.

Some argue that investors calling on each other to buy and drive up the price of a particular stock is the equivalent of a social-media-driven pump-and-dump scheme. Typically, traders who create the buzz benefit from the rally because they already own the shares, while investors who buy late into the hype are typically left holding the bag when stocks drop.

#GlobalNews #GameStop #WallStreet

[Jason_from_cal]

"educate people on the dangers of this type of trading" 🤣🤣🤣🤣 F the hedge funds that screw companies over all the time. I'm glad the little guy rigged the market for once

[AlexisGarcon]

"Educating people"... they know exactly what they are doing. This is the free market. Leave it alone, and look where it goes... to the moon.

[_Just_Another_Guy]

Rich hedge funds are salty that the regular average joe finally beat them at their own game, so now they want to make up new rules to the game.

[CHMichael]

Did someone from the white house make a call to Robin Hood?

[Kozickih]

I love how they're calling this market manipulatation when it happened on a free and public forum, but what they do behind closed wall street doors is obviously fine.

[davidjackowski]

You guys know how tied the new admin is to wallstreet right? Like, weve got THE corporate Democrat driving now.

[chancellorasher]

Ofc government always act fast when the average joes are winning... but when big corporations and billionaires win y’all congratulate them

[lppoqql]

They need to investigate Robinhood and other trading platforms that conspired to cheat retail investors.

[TheGhjgjgjgjgjg]

We comin for you 1%.First we take your money, then we take your lives

[rurutuM]

In other words go ask the SEC, the White House dont want to deal with this.

[creepylittlegirl]

Daily Quote from Jen Psaki:
Monday: "Circle back... circle back... circle back..."
Tuesday: "Circle back... circle back... circle back..."
Wednesday: "Circle back... circle back... circle back..."
Thursday: "Circle back... circle back... circle back..."
Wait for it. Jen Psaki will say "Circle back" again in 3... 2... 1...

[VS]

I am surprised she didn't mention that we have the first female Treasury secretary like the last time this question was asked.

[qinghua_chen]

It is not a good idea to stop people from trading ....

[bobstarr]

Did she just say the federal government has nothing to do with wall st. law?

[joshwhisky]

The world sees all of this for what it is.

[yeshuapleaseprotectthechil]

The GameStop situation may have a severe adverse effect on stock markets around the world as well as on retirement funds.
This is actually a frightening 'glitch' in the matrix which may become one of the greatest transfers of wealth from the global elites to everyday people.
This situation has never occurred before thanks to 'shorts' and a shortage of liquidity.
FRIGHTENING FOR THE SUPER RICH.

[none]

Global mysteriously stops covering the full WH briefings when reporters start to ask about Janet Yellen being involved with GameStop stocks.
She is the Treasury Secretary;
-was paid by Citadel
-Citadel bailed out GameStop short sellers.
-trading stopped
Where is the outrage?

[shawnclifton]

"We'll have to circle back to that question."

[davidbrennan]

Robinhood: "Don't worry everyone, we'll let you go back to buying Gamestop stock tomorrow morning, after the big hedge funds have been given 24 hours to get out of dodge by covering their short positions without you peasants being able to make the short squeeze any more inconvenient for them by driving the stock price higher. Only once the hedge funds are safe, may you go back to driving up the stock price."

[nathanblades]

They basically bet on themselves loseing its like insurance on a loss
Some Companies did that just before 911 🤔