Treasury Secretary Janet Yellen said she will hold a meeting Thursday with top financial market regulators to discuss recent trading volatility that saw shares like GameStop soar, fueled by online communities seeking to build buying momentum and profit from heavily shorted stocks. “We really need to make sure that our financial markets are functioning properly, efficiently, and that investors are protected,” Yellen told ABC’s “Good Morning America” on Thursday. “We’re going to discuss these recent events and discuss whether or not the recent events warrant further action,” she said, adding, “We need to understand deeply what happened before we go to action, but certainly we’re looking carefully at these events.” Frenzied trading of GameStop stock sent shares surging over 400 percent last week before falling sharply. The situation, which includes other stocks like AMC and Nokia, has spurred calls for stronger regulations. The Securities and Exchange Commission (SEC), the country’s top financial regulator, …
Yellen Convenes Meeting to Probe GameStop Volatility and Ensure ‘Markets are Functioning Properly’
February 4, 2021
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