GameStop Corp. shares surged as speculation swirled around a return to social media by Keith Gill, who drove the meme-stock mania of 2021 under the moniker “Roaring Kitty.”
In the hypothetical trade in Question 7, would the US Securities and Exchange Commission have a case against him for market manipulation? In your answer, make reference to (1) the fact that the tweet doesn’t mention GameStop at all, (2) the recent decision by a federal judge in Texas that actually pump and dumps are legal and (3) the 2023 decision by a federal judge in Washington, DC, that the moon emoji is securities fraud.
We live in a crazy world.
Disclaimer: I hold 4 GME shares because… well, I just wanted to have a bit of fun.
I hope he had a real long talk with his lawyers to be 100% sure this also won’t count as market manipulation.
Matt Levine has an amazing newsletter about this today. Relevant excerpt:
We live in a crazy world.
Disclaimer: I hold 4 GME shares because… well, I just wanted to have a bit of fun.