Meme stock favourite GameStop says it is subject of SEC probe

GameStop is one of a handful of stocks that have been fueled by Reddit traders who invest based on social-media buzz.

GameStop Corp., one of the popular “meme” companies whose stock has soared this year, said U.S. securities regulators are looking into the trading of its shares. The video-game retailer said Wednesday that staffers from the Securities and Exchange Commission contacted the company on May 26, for voluntary production of documents and information related to the stock. “We are in the process of reviewing the request and producing the requested documents and intend to cooperate fully with the SEC staff regarding this matter,” the company said in a quarterly filing. “This inquiry is not expected to adversely impact us.”