@failedLyndonLaRouchite i get the theory. but why wouldn’t it apply to stocks, then? many speculators have zero intercourse with the issuer, seek speculative gains that may accrue without any clear connection to the actions of the firm (cf AMC, GameStop etc). if there’s a speculative casino clientele for a thing that is also a security to other clienteles, is it right to draw a distinction by purchasing platform? doesn’t securities *exchange* regulation specifically cut against that take?