Image source: SEC Investomania Twitter & youtube
One of the more shocking things the SEC or Securities and Exchange Commission released in the past year has got to be the bizarre Invest Mania video they published on their official social media pages such as twitter and even YouTube.
If you are not aware of this video, look below in a tweet by unusual whales.
This video caught retail investors off guard for a few reasons.
Firstly, the video seems to undermine what the retail community in the stock market had gone through during this so-called Meme stock era. In 2021 when the Buy buttons were taken away from multiple brokers during the insane run up of major names like AMC and GME stock.
Robinhood has been facing angry retail investors ever since they took away the buy button during the initial meme stock frenzy last year. The trading platform which is supposed to fully support retail investors is now looked at as one of the biggest enemies to the everyday investors. Now they might be facing bigger issues since this is going to likely move to the court rooms next.
What’s maybe even more shocking about this video that the SEC produced is the cost of the video. From first glance you can tell that the video seemed to be “over produced” for the message it was trying to convey.
Twitter user @etanleibovitz18 said on twitter “The SEC finally responded to my FOIA application inquiring the cost to produce the InvestoMedia – Meme Stock video. See attachments … Retweet and share the news … looks like over $450,000 #AMC“
Below is the tweet with the source of all the details on cost to produce this video and more.
In closing, do you think the SEC should be spending this sort of money on a video to basically mock and make retail investors look stupid? Does the SEC not already have enough on their hands? When will the SEC put retail investors first, is the question millions of retail investors are dying to know the answer to.