Securities and Exchange Commission looks out for manipulation in share market
The US Securities and Exchange Commission is looking at the share market and observing if there are any signs of misconduct and manipulation, the U.S watchdog claimed on Monday, reported Reuters.
The move comes after “meme stocks” including theatre chain AMC Entertainment continued to see a surge in their share prices.
Shares of AMC Entertainment, aided by a group of small-time individual traders soared by another 20% during the morning trade, expanding profits into a third week as message boards buzzed with hype about the prospects to squeeze Wall Street short-sellers.
A spokesperson for the Securities and Exchange Commission confirmed in a statement, “SEC staff continues to monitor the market in light of the ongoing volatility in certain stocks to determine if there have been any disruptions of the market, manipulative trading, or other misconduct.”
“In addition, we will act to protect retail investors if violations of federal securities laws are found,” he added.