THREAD: Do the people on Reddit's #WallStreetBets who are buying Gamestop, AMC, and other stocks have any legal liability to do so?
By buying up Gamestop and AMC stock, they caused the price to shoot way up in a short period of time.
So did they engage in "market manipulation," as some people on social media have claimed? Could they get in trouble with the SEC, which is "watching" the matter, or go to prison?
I've been discussing this with a friend who is a former SEC attorney, and this looks like something we've seen before.
Whether those people have liability turns on whether they make false or misleading statements.
If the argument is that the *trades themselves* are manipulation, that will be a very difficult claim to make.
Those claims are very challenging to make, and in this case, I don't see a viable claim **based solely on what the public knows now.**
But if this is really just a group of people who decided they want to buy a stock, it's not manipulation.
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There is co-ordination across the far right in Ireland now to stir both left and right in the hopes of creating a race war. Think critically! Fascists see the tragic killing of #georgenkencho, the grief of his community and pending investigation as a flashpoint for action.
Across Telegram, Twitter and Facebook disinformation is being peddled on the back of these tragic events. From false photographs to the tactics ofwhite supremacy, the far right is clumsily trying to drive hate against minority groups and figureheads.
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Declan Ganley’s Burkean group and the incel wing of National Party (Gearóid Murphy, Mick O’Keeffe & Co.) as well as all the usuals are concerted in their efforts to demonstrate their white supremacist cred. The quiet parts are today being said out loud.
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This follows on and is part of a misinformation campaign to polarise communities at this time.
The best thing you can do is challenge disinformation and report posts where engagement isn’t appropriate. Many of these are blatantly racist posts designed to drive recruitment to NP and other Nationalist groups. By all means protest but stay safe.
