The SEC’s attack on meme stocks is far from over — the agency has released a video warning investors of meme stocks, with a message intended to educate investors on responsible trading. The YouTube video has left many investors feeling that the SEC does not have their best interest in mind. Many profited off of meme stocks, which soared in 2021 due to a Wall Street Bets Reddit thread, among other social media outlets. However, the SEC is stating that meme-stock investing is irresponsible and is the result of internet hype. The SEC has urged investors to do their own research prior to investing.
Jon-Jorge Aras, Partner and Chair of Securities Litigation at Warren Law Group states “the SEC’s stated goal is to protect investors. As interest in the stock market has grown, trading platforms are the most widely available, and more individual retail investors are taking their chances in the markets. The SEC wants to curb the risk of retail investors gambling away their futures.”
If you have lost money trading meme stocks you should seek experienced, regulatory counsel to review your trades and any potential recourse. Contact the attorneys at Warren Law Group at (866) WLGROUP or email firstname.lastname@example.org to schedule your consultation.