A growing concern among stock-market veterans points to Nasdaq and penny stocks, such as $BETS and $PHUN, as central figures in recent trading frenzies. These frenzies, characterized by huge bursts of trading volume, have been fueled by individual investors using zero-commission trading tools and the allure of stocks that gain attention on social media platforms. The phenomenon has drawn criticism towards Nasdaq, with calls for the exchange to tighten its standards to protect retail investors. This situation has been further complicated by the involvement of Wall Street brokers in the hot retail-options trade, which has been blamed for increasing stock volatility and market speculation.