Thu. Jun 1st, 2023

The 2021 GameStop stock surge (opens in new tab) seems to have acquired a new lease of daily life in new months. To start with, a person of the hedge cash that took a large small situation versus the stock declared it was to near (opens in new tab). And now, the US Securities and Exchange Fee (SEC) has concluded an investigation (opens in new tab) into an on-line brokerage and its co-founder—and slapped them with a combined $125,000 in fines for a ten-minute restriction on trading so-called meme shares.

The SEC charged broker-supplier TradeZero America Inc. and co-founder Daniel Pipitone with “falsely stating to the firm’s shoppers that they didn’t limit the customers’ purchases of meme stocks when in simple fact they did.” And how!