So ridiculous. When institutions, hedge funds, HFT, billionaires manipulate the market it's OK, but when you don't play by the same rules of cheating you get sued? All market manipulation is bad, but everyone should get slapped equally.
Unfortunately, that has never been the case. It's been a case by case issue for the longest time. The bigger the names the more the regulators need to save face for all the fees they garner from all the participants.
Looks like the plaintiff who did some pump and dump following Roaring Kitty's lead. LOL If the stock price has gone up since the May 12th tweet, the price of the stock that the plaintiff has bought on May 13 2024 would've gone up by now so WHERE is the damage? In order to sue for damage, you have to have suffered damages. This is what the defence lawyer and the judge be grilling the plaintiff on. He better has some good answers.
But is that really all there is? Or is that all he wants you to see or believe? How do you know for sure that he didn't sell at the top? Moreover, how do you know he doesn't have another brokerage account he uses to cover his tracks?
How come Tokyo Joe got in trouble? https://www.washingtonpost.com/wp-srv/WPcap/2000-01/06/070r-010600-idx.html
It's mostly "same shit, different story" (and definitely different times). Tokyo Mex didn't carry the same horde of brainwashed zealots like Roaring Kitty. RK's followers can't see, and don't care to see, what their hero is doing. Still, I think SEC should do an audit of RK. If he did sell while simultaneously pumping up GME, he should get a public flogging. But if he played by all the rules, heck, his fame will go through the roof, don't ya think? So what's not to like about a little scrutiny?
what. He’s shorting hundreds of millions of gme in another account? If that were true that would be illegal. it’s not manipulation if he sells at the top. Gme is not a penny stock.
Why would shorting be illegal, either in this account or that account? No dude, what's illegal is him initially pumping up GME and then subsequently selling all his positions in his secondary account but only showing his position in his primary account. Thereby giving false impression that he's still in the trade.