"There was absolutely nothing wrong or illegal about anything that was happening on the part of the army of small investors." Wrong. While many jumped on the bandwagon after it got going, many others coordinated to get it started. Colluding to manipulate the price of a publicly traded stock is securities fraud. It is being investigated and will be prosecuted by the SEC. And this is not, as it's being portrayed, a victory for the little guy over Wall Street fat cats. Whenever the stock market is gamed, it's the little guys who always get hurt the most. In addition to small time investors investing directly in stocks, many of the institutional investors are investing the money of thousands of small investors. Some hedge funds will be hurt, but hedge fund managers don't lose any of their money when their funds go down. They share in profits, but they don't share the losses. They don't pay any price for losing their investor's money. If the fund ...
The Ken Padgett Blog