Former SEC Chairman: The return of meme stocks is troubling, but Roaring Kitty behavior is legal

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Odaily Odaily reported that CNBC interviewed former SEC Chairman Jay Clayton. Regarding the 187% increase in GME this week and the resurgence of Meme stocks, Clayton said: "It bothers me on many levels. It is closer to gambling than trading, and certainly not an investment." In addition, Clayton commented on the legality of Roaring Kitty's recent behavior. Although it does not constitute insider trading or stock market manipulation, Clayton believes that Kitty should express his thoughts directly and clearly (Tell people why you do this.), and his behavior is legal.

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