According to Odaily, Jay Clayton, the former chairman of the Securities and Exchange Commission (SEC), has expressed his concerns over the recent surge in GameStop's (GME) stock price. In an interview, Clayton commented on the 187% increase in GME's stock price this week and the resurgence of Meme stocks, stating that it 'bothers him on many levels.' He further added that the situation is more akin to gambling than trading, and certainly not investing.
In addition to his comments on GME, Clayton also discussed the recent actions of Roaring Kitty, a popular figure in the stock trading community. While he did not accuse Kitty of insider trading or market manipulation, Clayton suggested that Kitty should be more transparent and straightforward about his intentions. He believes that Kitty should clearly express his thoughts and reasons behind his actions.