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Investment Firm s Collapse Put Unseen Risks on Full Display
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Penny stocks are booming, which is good news for swindlers
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Penny Stocks Are the Latest Trading Mania - The New York Times
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Penny Stocks Are Booming, Which Is Good News for Swindlers
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Doug Cifu, chief executive of Virtu Financial, the market maker, broker and technology provider, defended payment for order flow as retail investors receive price improvement and the business model has allowed markets to become more democratized.
Cifu was interviewed in a webinar today by Larry Tabb, head of market structure research at Bloomberg Intelligence as part of the Equity Trading Research Series.
Looking to talking with @ltabb about how retail market making really works…and maybe some hockey and @FeltmansConey too? @VirtuFinancialhttps://t.co/PuBgLBzNQ0 Doug Cifu (@Dougielarge) February 22, 2021
They were responding to Congressional hearings last week into the volatility of shares in GameStop rising 1,600% last month. Retail investors drove up the price after users of online forum Reddit had posted that hedge funds had taken a large short position in the US video game retailer. Trading app Robinhood was forced to temporarily suspend tr