Posted on 01/26/2021 11:58:57 PM PST by Reverend Wright
The top securities regulator in Massachusetts thinks trading in GameStop stock, which has been skyrocketing, suggests there is something “systemically wrong” with the options trading surrounding the stock.
The videogame retailer’s stock was up 93% on Tuesday and has roughly quadrupled in the past week. It was up another 40% in after-hours trading Tuesday, to eclipse $200. Traders have been bragging on online forums about taking large bets the stock using options—often out-of-the-money calls that pay off only if the stock soars.
William Galvin, the Secretary of the Commonwealth of Massachusetts, said in a statement to Barron’s that he’s been watching the stock.
“This is certainly on my radar,” Galvin said. “I’m concerned, because it suggests that there is something systemically wrong with the options trading on this stock.”
(Excerpt) Read more at marketwatch.com ...
Elon has no love for one of the hedge funds losing their shirt over $GME.
To the Elites, anything which causes them to lose money is “systemically wrong”. They, and ONLY they, are supposed to always win.
That’s the whole point of being in the Elite.
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