News | 06.06.22
Redditors Slam SEC for Releasing Video Allegedly Mocking Meme-Stock Traders
Meme-stock traders on subreddits like “Wall Street Bets” and “Superstonk” are complaining that the latest entries in the U.S. Securities and Exchange Commission's (SEC) “Investomania” series of YouTube videos are insulting and even hypocritical. The videos depict a group of young people competing in an imaginary game show entitled “Investomania.” One contestant who chooses to invest in “meme stocks” sees all his money disappear before being rewarded with a pie to the face. A second video pokes fun at investors who bought cryptocurrencies that were endorsed by celebrities. The videos close with the same voice over: “Investing is not a game, always do your research before making an investment decision."
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