Your editorial refers (“This is a financial riot”, February 1). It is ironic that the Wall Street establishment and mainstream media should accuse retail traders, who caused the squeeze on short-sellers of GameStop stock, of treating the stock market like a casino.
Short-selling is not only in itself inherently speculative but has so often in the past been abused by people with insider knowledge.
Stock exchange regulators in the US and elsewhere ought to take note and introduce more discipline in stock market activities, starting with outlawing short selling. Financial markets that seek the trust and respect of the investing public should not allow sales of instruments not owned and paid for.
Blignault Gouws
Waterkloof Ridge
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