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But the shenanigans Wall Street carries out isn't the world's best kept secret, and this adds more noise than signals to the mix. The Wall St vs the masses narr
by notahacker 6y ago
But the shenanigans Wall Street carries out isn't the world's best kept secret, and this adds more noise than signals to the mix. The Wall St vs the masses narrative is entirely fake (a lot of market makers and funds already long on GME are delighted at the influx of money from novices, and some of the shorts will be little guys too), the claims of shenanigans don't really add up (Robinhood suspends trading today to benefit a partner who unwound their position... yesterday) and we're certainly not seeing middle ground arguments on shorting, or funds, or anything really. And people aren't going to get more open minded after they lose money in their first significant interaction with financial markets.
I doubt reforms that might happen as a result are going to be what people piling on meme stocks want either.