As DOW, S&P 500 Sink into Red YTD, GameStop, AMC, 4 Other “Most Shorted Stocks” Jump 135% to 538%. Utter Mania. But Bloodletting in Late Trading.

by Wolf Richter
Wolf Street

“It’s really something to see Wall Streeters with a long history of treating our economy as a casino complain about a message board of posters also treating the market as a casino”: AOC

What a hilarious show this zoo that has gone nuts has turned into. White House Press Secretary Jen Psaki came out today and said the White House “economic team including Secretary Yellen” were “monitoring the situation.” The situation being total utter mania in the most shorted stocks, such as GameStop and AMC.

The SEC came out and said today it too is “actively monitoring” the options and equities markets. “Consistent with our mission to protect investors and maintain fair, orderly, and efficient markets…” which was when humongous laughter drowned out the rest. Did the SEC really say “efficient markets????” Hahahahaha.

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