RE: Sorry, but “outsider” trading is not (yet) illegal.
Charles Payne at Fox Business Payne called it a “short squeeze” and said “it’s working.”
According to The New York Times, GameStop’s market value jumped from $2 billion to more than $24 billion “in a matter of days.” Share prices for AMC Theatres and Nokia have also been driven up.
“Wall Street is losing its mind and Wall Street now wants to change the rules of the game because a bunch of people with accounts ranging from $500 to $2,500 are taking down the billionaires,” Payne said.
If this kind of trading is to be made illegal, then Hedge Funds practices should all be made illegal as well.
Spot on... Hedge funds being beat at their own game. The rules were the same until Robinhood restricted retail buying. What would Hedge funs do if their access to market was cut off?