Virtu Financial CEO says meme stock frenzy not solely driven by 'a band of retail traders'

cnbc2021-06-10

The frenzied activity involving so-called meme stocks is being driven by more than just retail investors, the CEO of market makerVirtu Financialtold CNBC on Wednesday. "There's a lot of institutions, ...

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Comments

Longshot
2021-06-11
Longshot
Ok
joshuachin
2021-06-10
joshuachin
To the moon!
- KennyChin:
  To thE moon
- joshuachin:
  diamond hands !! ??
YengLeng
2021-06-10
YengLeng
Like and comment pls
TSLAtothemoon
2021-06-10
TSLAtothemoon
Like and comment pls
- HnO:
  Assist comment on this comment. Thank you.
JonathanT
2021-06-10
JonathanT
Ok
fastpoke
2021-06-10
fastpoke
Nice
- JonathanT:
  Ok

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While the saga began in January, withGameStopthen serving as the most prominent example, retail traders havebroadened their focusto other securities.\nAMC Entertainmenthas lately been a favorite on Reddit boards and, very recently,Clover HealthandClean Energy Fuels have attracted attention.\nClover Health entered Wednesday's session up more than 140% so far this week alone. However, despite an initial pop to start the trading day, Clover Health closed down 23.6%.\nClean Energy Fuels soared more than 30% Wednesday.\nReddit traders have looked for stocks with sizable short positions, buying shares and call options in an attempt to push up the price.\n\"They're going for anything. … You have to try to figure out which one is next,\" CNBC's Jim Cramer said earlier Wednesday, while likening the meme-stock craze togambling, not just investing.\nCifu also co-founded Virtu in 2008, and the New York-based financial firm has become one of the world's largest market makers, which play a crucial role in executing stock trades.\n\"We have two sides to our business. We have a retail business and an institutional business. It should not be lost on people: This is not solely a retail phenomena,\" Cifu said, referring to the meme stocks.\n\"We want to make sure that there's appropriate suitable, people actually know what they're doing and they get full transparency,\" he added. \"But otherwise, that's what markets are here for, and they're functioning quite well.\"","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":188028395,"gmtCreate":1623417182317,"gmtModify":1704203042815,"author":{"id":"3570092809336734","authorId":"3570092809336734","name":"Longshot","avatar":"https://static.tigerbbs.com/7cad4ddeab0622dd29ed1d7c76c750b8","vip":1,"hat":"https://static.tigerbbs.com/306aa047bc14b6942cda1aed925cf8c3","crmLevel":7,"crmLevelSwitch":0,"idStr":"3570092809336734","authorIdStr":"3570092809336734"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/188028395","repostId":1153136669,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":183132971,"gmtCreate":1623313625293,"gmtModify":1704200666577,"author":{"id":"3575284407051997","authorId":"3575284407051997","name":"joshuachin","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575284407051997","authorIdStr":"3575284407051997"},"htmlText":"To the moon!","listText":"To the moon!","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/183132971","repostId":1153136669,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4679382,"gmtCreate":1623385617127,"gmtModify":1663228431432,"authorId":3575287510695459,"author":{"id":3575287510695459,"idStr":"3575287510695459","authorId":3575287510695459,"name":"KennyChin","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":183132971,"type":1,"supId":0,"prevId":0,"content":"To thE moon  ","text":"To thE moon  ","html":"To thE moon  "},{"id":4679411,"gmtCreate":1623385745961,"gmtModify":1663228430029,"authorId":3575284407051997,"author":{"id":3575284407051997,"idStr":"3575284407051997","authorId":3575284407051997,"name":"joshuachin","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":183132971,"type":1,"supId":4679382,"prevId":0,"content":"diamond hands !! ??","text":"diamond hands !! ??","html":"diamond hands !! ??"}],"langContent":"EN"},{"id":183036146,"gmtCreate":1623292924785,"gmtModify":1704200241974,"author":{"id":"3571690530961910","authorId":"3571690530961910","name":"YengLeng","avatar":"https://static.tigerbbs.com/935446444718adfc02516fd4ee8eddd3","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3571690530961910","authorIdStr":"3571690530961910"},"htmlText":"Like and comment pls&nbsp;","listText":"Like and comment pls&nbsp;","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183036146","repostId":1153136669,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":189763474,"gmtCreate":1623289442998,"gmtModify":1704200143792,"author":{"id":"3581496657430027","authorId":"3581496657430027","name":"TSLAtothemoon","avatar":"https://static.tigerbbs.com/b7eb252b1bc52ab7567a6f6dbc62f92e","vip":1,"hat":"https://static.tigerbbs.com/50a4c8d97279fa9f8f1fa9749a6bdff4","crmLevel":8,"crmLevelSwitch":1,"idStr":"3581496657430027","authorIdStr":"3581496657430027"},"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/189763474","repostId":1153136669,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4659834,"gmtCreate":1623290410470,"gmtModify":1663228330531,"authorId":3583921105592280,"author":{"id":3583921105592280,"idStr":"3583921105592280","authorId":3583921105592280,"name":"HnO","avatar":"https://static.tigerbbs.com/ecbe6143413eb62a33fb0d16ac34fe52","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189763474,"type":1,"supId":0,"prevId":0,"content":"Assist comment on this comment. Thank you.","text":"Assist comment on this comment. Thank you.","html":"Assist comment on this comment. Thank you."}],"langContent":"EN"},{"id":189717248,"gmtCreate":1623288861384,"gmtModify":1704200124285,"author":{"id":"3575431836205857","authorId":"3575431836205857","name":"JonathanT","avatar":"https://static.tigerbbs.com/2632c1769669f38825c0a45bf5c0be95","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575431836205857","authorIdStr":"3575431836205857"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/189717248","repostId":1153136669,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":189713856,"gmtCreate":1623288520675,"gmtModify":1704200113462,"author":{"id":"3583669051926610","authorId":"3583669051926610","name":"fastpoke","avatar":"https://static.tigerbbs.com/8d9ed10b422c8c458a9b27944649bd3e","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3583669051926610","authorIdStr":"3583669051926610"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/189713856","repostId":1153136669,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4659358,"gmtCreate":1623288946691,"gmtModify":1663228330833,"authorId":3575431836205857,"author":{"id":3575431836205857,"idStr":"3575431836205857","authorId":3575431836205857,"name":"JonathanT","avatar":"https://static.tigerbbs.com/2632c1769669f38825c0a45bf5c0be95","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":189713856,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":74,"commentSize":16,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1153136669"}