Reddit’s army of retail investors -- aka 'Apes' -- found fellowship in a 7-foot bronze statue Tuesday.
Gary Gensler might not have come through with the regulatory revolution many of them wanted on Monday, but retail investors shrugged off their SEC-sized hangover on Tuesday to enjoy some big gains in big meme names, get high on pot stocks and bathe in a truly delightful visual metaphor on actual Wall Street.
The gorilla, erected by nascent social-networking platform Sapien.Network which also stashed 10,000 bananas under the famously virile bronze bull, is apparently “dedicated to putting the needs and welfare of human beings first.” iframe.twitter-tweet { width: 100% !important; } But it wasn’t just statuary taking a stand on Tuesday.
Reddit and Twitter were also full of speculation that the SEC’s look back at GameStop’s unprecedented move was more proof that short-sellers didn’t cover their bets, despite a passage in the report in which the SEC found that “GME had sharp price increases concurrently with known major short sellers covering their short positions after incurring significant losses.”
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