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Meme stock frenzy not solely driven by retail traders: Virtu CEO Cifu

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The frenzied activity involving so-called meme stocks is being driven by more than just retail investors, the CEO of market maker Virtu Financial told CNBC on Wednesday.

“There’s a lot of institutions, professional traders, speculators, whatever you want to call them, engaged in this in both the cash equities market and the options market,” Virtu’s Doug Cifu said on “Power Lunch.” “This is not solely a band of retail traders trading these stocks,” he added.

Cifu’s comments come as the spotlight has returned to meme stocks that are popular on online forums such as Reddit. While the saga began in January, with GameStop then serving as the most prominent example, retail traders have broadened…



Source cnbc.com

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