Reddit the phenomenon
How reddit traders drove gamestop stock up 275% in a week
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Reddit vs. wall street: an expert explains the gamestop
A few narratives about the Reddit-Wall Street bets/small trader phenomena are emerging from existing financial commentators. The first is that traders are inflating stock markets, which will eventually crack. The other is that when the regulator intervenes, the stock markets will return to more normalcy. Both are incorrect.
First, the Reddit message board may have fueled small investors to purchase GameStop stock, causing the electronics retailer’s stock price to skyrocket. However, it hasn’t been completely motivated by speculation.
The exercise is a calculated attack on hedge funds by a group of investors working together to destabilize a well-established segment of the financial system. They want to compel hedge funds to close their short positions by driving up the prices of the stocks they are betting against. If these traders made money in the meantime, it was just a side effect of their strategy.
Yes, considering the difficulties that the Texas-based retailer is facing, GameStop’s stock price will eventually fall. Fundamentals should return to the market, and the small investor tribe will shift their focus to a new goal. But here’s the thing: small investors aren’t motivated by greed in their investments.
Reddit phenomenon has democratized access to the market
He should have been focusing on the physics student he was tutoring in his spare time while enrolled in a post-baccalaureate pre-med program, but Mo’s gaze kept wandering back to the open Robinhood app on his tablet.
Omar had put $6,000 into Beyond Meat options, and in the days leading up to the tutoring session, the value of that investment had risen to nearly $15,000. But what he was seeing right now was torturous.
Before the options were useless, Omar realized he should probably sell them. But he stuck to the motto of the subreddit r/wallstreetbets, where he heard about options trading for the first time, and kept going.
WallStreetBets went from the front page of Reddit to the front page of the New York Times and almost every other major news organization. The subreddit’s GameStop short-squeeze helped the video game retailer’s stock rise 1,700 percent from the beginning of January to Wednesday (before falling again Thursday), capturing the minds and wallets of both casual and institutional investors, as well as financial regulators.
Reddit-fueled market frenzy a ‘short term phenomenon that
As day traders pile into so-called meme stocks, shares of GameStop, AMC, and other heavily shorted companies surged through January and remain at elevated levels. Some see the trend as an easy way to get rich fast. Others have compared it to a revolution against the old guard on Wall Street. Three members of Insider’s markets and investing teams discussed the dynamics behind the rally and how the retail-trader phenomenon can grow in the coming weeks on Tuesday, February 2. Joe Ciolli, Deputy Editor, spoke with: