The SEC just proposed to remove Rule 611 and 610e⚠️
These rules prevent exchanges and market makers from executing a stock trade at a price that is worse than available prices on other exchanges.
Rescinding them will effectively grant greater autonomy to Institutions and more opportunities for MMs to leech/price fix securities.
We will then rely on "best execution", which is monitored by FINRA - the "pay to play" regulator.
A dark turn for U.S. markets.
GameStop has reported its highest quarterly net income ever at $389.6 million and its highest first-quarter operating income at $143.3 million. Year-on-year net sales grew 14% driven by a surge in collectibles. The company also boasts a substantial cash reserve of $9.7 billion, along with marketable securities digital assets and related receivables.
$GME
GameStop reports highest quarterly net income in company history of $389.6 million. Highest first quarter operating income in GameStop’s history of $143.3 million. Net sales grew 14% year-over-year, driven by collectibles. Cash, marketable securities, digital assets and related receivables, and collateral pledged for derivative asset of $9.7 billion.
https://t.co/BAu3T6V9w4
Community note for the win. We convicted you for fraudulently manipulating stock prices. You made more than $20 million by cheating investors. You’re not a victim.
If British jews are to be held responsible for what happens in Gaza...then by the same reasoning British Muslims should be held responsible for the massacres of Christians by Muslims in Nigeria
ICYMI: $EBAY tipped hand in unsolicited email to me - they're being advised on $GME by strategic comms firm Joele Frank.👀
FYI: Head of Financial & Crisis Comms Maddy Martinez came by way of TCGPlayer w/ prev stint at Joele Frank.
@ryancohen might find that interesting.
🚨 HOLY CRAP. A FOREIGN PRIME MINISTER just told American media YOUR war isn't over, and casually floated sending YOUR sons into Iran to grab uranium.
NETANYAHU: "It's not over."
"You go in and you take it out."
REPORTER: With what? Special forces from Israel? From the United States?
"I'm not going to talk about military means, but what President Trump has said to me, I want to go in there."
"I think it can be done physically."
REPORTER: How long?
"I'm not going to give a timetable."
So a foreign leader sets the mission, dodges the means, refuses a timeline, and YOUR kids fight it. YOUR taxes fund it. YOUR dollar inflates for it.
This is Israel dictating YOUR foreign policy. Reject it. 🟧🦍