Equity Group SVP Devin Sullivan commented in a January 28th article published in IR Magazine: Millions of Retail Investors Convening in Reddit Groups and Targeting Short-sellers: Millions of retail investors convening in Reddit groups and targeting short-sellers.
In the article, Sullivan noted, “Situations like GameStop and AMC take away our ability to thoughtfully address questions regarding valuation because there are no more rules. Exuberance morphs into manipulation, and that draws into question the integrity of the markets. When stories like this lead the local news I think change is coming. We are already such a highly regulated industry but I suspect this type of activity will invite more oversight.”