May. 07, 2021
Hello, I have made a comment previously but as I see the approval was extended another 45 days, here are my new thoughts. The United States of America is one of the greatest countries in the world, the US dollar is the reserve currency, the stock exchanges are the most popular. It is supposed to be a free market. However, lately with all that has been going on with "meme stocks' it is quite evident this never has been a free market. Hedge Firms short companies with the intention of bankrupting them and never buying back shorted shares. They have access to more information, high frequency trading, liquidity and can essentially do whatever they want. The SEC's job is to ensure it is a free market, but nothing has been done in the blatant market manipulation and predatory shorting. This rule should have been implemented today. There were numerous comments in support. The SEC needs to actively monitor and actually police wall street rather than just handing out fines which are not a deterrent at all. Other countries in the world have limited or banned excessive short selling. Something needs to be done asap otherwise I along with others will begin pulling money out of US markets and invest where we retail traders are actually protected. Thank you, Bryan Brar, CPA, CA