Who Is Allowed in the Smoke-Filled Rooms of Investment?
How the stock market is manipulated, using the GameStop episode as an exampleFull disclosure: I continue to maintain positions in some of the stocks mentioned in this article. But, as you will see, my goal here is neither to promote stock or dissuade from it, but rather to ask a deeper question about who is allowed to do what about a stock. For those who are unaware, the last two weeks in the stock market have gone crazy. GameStop (GME), a company that continues to lose money, skyrocketed from $18/share to, as of the time I’m writing, just about $450 per share. That’s right the stock soared over 20 times in value over the period of a few weeks. Several other stocks have also skyrocketed, including AMC Entertainment (AMC) and Koss Corporation Read More ›