Interview

Did The SEC Get GameStop Wrong? Some Academics Say Yes

By Dean Seal (February 16, 2022, 7:45 PM EST) -- A cadre of law and business professors released a study this week saying the U.S. Securities and Exchange Commission reached the wrong conclusions in its analysis of the "meme stock" trading frenzy that reached a fever pitch in early 2021.

Joshua Mitts It's been more than a year since GameStop's share price surged to $483 in a matter of weeks as hordes of retail investors, rallied through social media, bought up large quantities of heavily short-sold stocks like GameStop. At the height of the frenzy, brokerages restricted purchases of those stocks, citing sky-high margin requirements.

The restrictions prompted public outcry and...

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