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GameStop speculation is danger to whole market: Massachusetts regulator

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The wild trading involving GameStop shares presents a broader threat to the U.S. equity market, the chief securities regulator in Massachusetts told CNBC on Wednesday.

“The marketplace should be a place where risk is taken, but not reckless risk and not a situation that undermines the system, and that’s what we’re looking at here,” Massachusetts Secretary of the Commonwealth William Galvin said on “The Exchange.”

Galvin, who has served in his role for more than two decades, pointed to the fact that more than 100% of GameStop shares had been shorted prior to the epic short squeeze driven largely by retail investors who hyped the stock in online forums such as Reddit. He said the size of the…



Source cnbc.com

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