The US Securities and Exchange Commission on Tuesday released a new commercial called “Investomania: Meme Stocks” and people aren’t happy about it.
The 30-second video is a parody of a game show, except contestants are given a set of options to invest in. Contestant A chooses meme stocks and gets the big red X, the buzzer, loses his money, and gets a pie in the face. Contestant B, the one who does “the right thing,” whips out her phone to do research first, and the screen goes to Investor.gov.
In the YouTube description, the SEC warns that “sometimes investing may look and feel like a game,” and calls on viewers to learn how they can “avoid getting caught up in game-like investing,” by testing their knowledge in the Investomania quiz.
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Unusual Whales, a paid service specifically for retail investors, pointed out on Twitter that what the ad seems to do is “trivialize millions of retail investors,” adding that it “seemingly diminishes one of the most important market movements of 2021, and appears to poke fun at millions of average people joining the market.”
Many Twitter users share the sentiment, with some saying that the ad is an attempt at manipulating the market, the very thing the SEC is supposed to regulate.
What’s more concerning is that the SEC seems to have anticipated the outrage and has outright decided not to participate in a conversation by turning off the video’s comments section.
Information for this briefing was found via the SEC and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
2 Responses
“Who The Fuck is Lil gary Gensler”?
#let’s go Gary #let’s go Brandon
The SEC sat on the sidelines watching Hedge Funds create a monster. That monster is now the gorilla in thecroom – read APES. According to a recent Wall St article, the reddit mob have mostly sold off their GME and AMC stocks. This, in mybopinion, is nothing more than FUD.
The SEC is all to aware or the ramifications for the whole market and the economy in general, if either GME or AMC short squeeze.
It is my opinion thatvThe Apes are sitting tight, just biding their time. Something has to give, and if I was a betting man, I believe that the Apes will win in the end.
I go on the record that I hold stocks in AMC. I have not done anything illegal, but I am holding tight.
Someone said the other day, if Warren Buffet buys and holds a stock, then he is a genius, but an Ape holding AMC is wrong. There is somethibg seriously wrong with the whole AMC story and the SEC knows this.
Charlie Rhoden
Kuala Lumpur
2nd June 2022