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U.S. SEC says observing the market as “meme stocks” rally

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Shares of AMC, supported by a pack of small-time individual traders jumped another 20% in morning trade, extending gains into a third week as message boards hummed with hype about the potential to squeeze Wall Street short-sellers.

“SEC staff continues to monitor the market in light of the ongoing volatility in certain stocks to determine if there have been any disruptions of the market, manipulative trading, or other misconduct,” a spokesperson for SEC said in a statement.

“In addition, we will act to protect retail investors if violations of federal securities laws are found.”

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