
Reddit forum’s role in Gamestop shares frenzy faces regulatory probe
US financial market regulators are to review the extraordinary rallies in the shares of struggling gaming retailer Gamestop, part-driven by participants of an investor forum on Reddit.The Securities and Exchange Commission said it was working with fellow regulators to "assess the situation and review the activities of regulated entities, financial intermediaries, and other market participants." The action reflects deep and widespread concern over the functioning of financial markets.Gamestop shares were up by 1,744% in the year to date - with a market value above $ 20bn - at the close of trading on Wednesday night. Image: The share frenzy has attracted White House scrutiny as treasury secretary Janet Yellen monitors developments The v...