In an interview with "Axios on HBO," New York Stock Exchange president Stacey Cunningham rejected comparisons between stock market investing and gambling.
Between the lines: Sen. Elizabeth Warren recently said "investors big and small are treating the stock market like a casino," in response to last month's situation with GameStop, Reddit and Robinhood. Cunningham says Warren is wrong.
How Cunningham replied:
Cunningham also says that NYSE officials have not been asked to testify at upcoming House or Senate hearings on the last month's headline-making volatility, even though GameStop, AMC and several other "meme stocks" trade on the NYSE.
On the issues: Cunningham is strongly opposed to a financial transaction tax that's been floated as a way to better even the investor field, even threatening to pull NYSE out of New York were there to be such a tax passed at the state level.
- She does, however, believe regulators should take a "fresh look" at requiring more transparency around short positions held by hedge funds.