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Very much so, yes. It's in that exact same "there might be a diamond hidden in this moronic memeing" style that WSB uses. Are they all idiots shitposting all
by curryst 6y ago
Very much so, yes. It's in that exact same "there might be a diamond hidden in this moronic memeing" style that WSB uses. Are they all idiots shitposting all day, or are they geniuses that just act like 4chan?
People saw what happened to GME, and will latch onto this as well. If you aren't at all versed in finance, following the "advice" of someone like Musk doesn't sound like a terrible idea.
Financial literacy in the US is very poor. We had to take a finance 101 class in high school, and I think the farthest we got was basic supply and demand, and how compound interest works. There was a whole day just on how to balance a checkbook. Most schools didn't do a finance 101 class at all. That is the level of knowledge some investors have. I'm not a fan of Musk, but I really do hope he can pull something positive out of this, and doesn't just cash out and crash the market on all these people.