Business
GameStop mania: why Reddit traders are unlikely to face prosecution – The Australian Financial Review
While retail investors succeeded in squeezing large institutional investors, experts do not believe their actions are likely to amount to market manipulation.
Last weeks market frenzy has presented regulators with an unusual challenge. While speculation has driven rushes on stocks before, it is rare for retail investors to buy in such numbers that they squeeze out large institutions that have bet against those companies.
The buying spree targeted companies against which institutional investors had taken out short positions, betting on their decline.
Gary Gensler, Joe Bidens nominee to head the SEC, made his name in the Obama era as a financial regulator…
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