Keith Gill — a.k.a. Roaring Kitty — got slapped with a lawsuit alleging a pump-and-dump scheme involving his GameStop shares.
Since 2008, funds with a short bias have seen assets decrease to $4.6 billion from around $7.8 billion.
The market appeared yawn-inducing at the broad index level, but there was a flurry of activity under the hood.
Investors are getting activated after a long weekend, but they were still able to push the tech-heavy index to a new peak.
A rare social media appearance by a well-known daytrader boosted GameStop and other stocks that gained popularity during the 2021 craze.
Industry groups representing a coalition of hedge funds havefiled a lawsuit seeking to challenge short selling rules implemented by the SEC.