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As the pros suspected would happen, fundamentals did eventually take over and the meme stocks have mostly returned to something akin to fair value. The only thing that the Redditors proved was that an army of novices acting concert can exploit short-term liquidity constraints to push prices around, but in the long run the stock […]
The Securities and Exchange Commission today charged broker-dealer TradeZero America Inc., and its co-founder, Daniel Pipitone, with falsely stating to the firm’s customers that they didn’t restrict the customers’ purchases of meme stocks when in fact they did. In late January 2021, many brokers restricted investors’ ability to purchase a group of highly volatile stocks […]