SEC takes action against two meme stock wash traders

The U.S. Securities and Exchange Commission has filed a complaint against two Robinhood users over an alleged wash-trading-based arbitrage scheme that utilized meme stocks. According to a Sept. 27 complaint, defendants Suyun Gu and Yong Lee took advantage of differing trading fee schedules offered by different retail brokers and exchanges to extract arbitrage while wash-trading. […]
Robinhood stock outruns Bitcoin in intraday crash, down over 10% in pre-market
The cost to purchase one Robinhood share (HOOD) dropped massively in the pre-market session on Thursday, beating even so-called volatile cryptocurrencies like Bitcoin in terms of intraday losses. In detail, HOOD was down 10.2% to $63.25 as of 8:00 am EDT compared to its $85 high in the previous session. On the other hand, Bitcoin […]