In this article, it discusses the effect of day traders on the stock market, including the recent GameStop fun:
How GameStop, Bernie Madoff, and Dave Portnoy Have Mets Fans Panicked
Less than a decade after the Bernie Madoff scam roped in the Wilpons and supposedly handcuffed the New York Mets payroll as a result, the team’s fans are panicking that new financial market weirdne…
One interesting note:
In the old days, retail investors were as a rule always the ones being outsmarted by hedge funds. Now the tables are turned.
It probably won’t surprise you that NASDAQ is going to make sure the little guy can’t do that again:
Nasdaq CEO Friedman says the exchange will halt trading in a stock if they link unusual activity to social media chatter
Adena Friedman told CNBC if the Nasdaq matches unusual trading activity with social media chatter, it may engage with the SEC to investigate.
Remember folks, only the elite are allowed to game the system.
UPDATE: Tucker Carlson chimes in (sorry if a painful ad plays first):
And, as Tucker notes, Discord shut an associated trader community down: Read More