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Benjamin Moroni Comment On Regulatory Notice 21-19

Benjamin Moroni

As a “retail investor”, which is a term I hate, the actions of Wall Street “professionals” over the past 6 months or longer has been eye opening to say the least. As a 43 year old man with a Bachelors degree in finance, who has taken classes on investing, stocks, mutual funds, options, bonds, and various other securities I always knew that I wanted a professional to manage my portfolio and 401k because of all the complications and loop holes that existed. That was until Jan 27th when I heard about GameStop. A company that my kids and I shopped frequently. I started researching and heard that hedge funds were attempting to short the stock and bankrupt the company. This enraged me. That is not the purpose of the stock market that is not how buying and selling stock is supposed to work. I saw this group of individuals like me and my kids stand up to Wallstreet and say no we won’t let you do this. And they stopped them. They single handedly saved the company. It just so happened they were doing the same thing with another of my families favorite companies AMC. Now we come to short selling and reporting. I am not smart but if you can tell me how over 100% of the stock that’s been issued can be purchased by retail investors who are holding and not loaning it out and not selling yet somehow there are 120-140% shares lent out to be shorted I would love to know how that happens. Sounds pretty illegal. In AMCs case if 80% of the float is owned by retail which I think it’s probably closer to 90 but hey we’ll give them the benefit of the doubt. Then you have 17% to insiders that leaves 3% available to be shorted yet the available short is at 20% plus. Now if you factor in dark pool trading which shows trading of blocks of 100s of millions of shares daily that don’t hit the open market so basically back room deals so they don’t affect the share price because if they did the share price really would be about $500 or more by now. You have to explain to me how there’s not a fundamental problem. You are the regulating bodies. Finra, DTCC, SEC you are all complicit and accomplices in this mess and when this system collapses which it will and you are all sitting in front of congress I can’t wait to hear the babbling idiotic excuses you use. Educations cost money common sense and street smarts cost you your life. I’m lucky enough to have both [REDACTED]