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joshuachin
2021-06-10

To the moon!

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

The frenzied activity involving so-called meme stocks is being driven by more than just retail inves

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

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KennyChin
·2021-06-11
To thE moon
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- joshuachin:
  diamond hands !! ??
  2021-06-11
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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.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":577,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":10,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":4679382,"commentId":"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,"objectIdStr":"183132971","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"To thE moon  ","text":"To thE moon  ","html":"To thE moon  ","likeSize":0,"commentSize":1,"subComments":[{"id":4679411,"commentId":"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,"objectIdStr":"183132971","type":1,"supId":4679382,"supIdStr":"4679382","prevId":0,"prevIdStr":"0","content":"diamond hands !! ??","text":"diamond hands !! ??","html":"diamond hands !! ??"}],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"hasMoreComment":true,"orderType":2}