It’s All in the Game(Stop): Social Media, Meme Stocks, and Section 230

Mar 15, 2022

Elizabeth Anastasi

In the age of the internet and social media, stock trading has shifted to new, largely unregulated platforms. This Article will discuss the applicability of Section 230 of the Communications Decency Act to social media fueled meme stock rallies that cause stock-price bubbles. It argues that reforms to Section 230 of the Communications Decency Act are warranted. While strict liability is an onerous and undesirable standard for social media platforms to abide by when monitoring finance-related activity, some rollback of Section 230’s safe harbor provisions and a more active role by the Securities Exchange Commission (SEC) would strike a balance between strict liability and total immunity, which appears to be the present standard. The Article concludes that reforms to Section 230 are needed to hold platforms accountable for content they host that is intended to manipulate the stock market.