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Nicolas Morgan “The political pressure to investigate is intense, so I suspect an investigation is already under way,” Nicolas Morgan says.

Attorneys who represent advisors and broker-dealers anticipate a probe by the Securities and Exchange Commission (SEC) of the recent dramatic price run-ups and high trading volumes in heavily shorted stocks including the retailer GameStop and others promoted by a group on Reddit’s “wallstreetbets” (WSB) board.

Over the past week, a wave of trading fueled by members of the Reddit WSB group pushed up the stock of video game retailer GameStop—a wave that has since spread to other stocks heavily shorted by hedge funds, including movie chain AMC and phonemaker BlackBerry.

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