4 ms·
I never got the "stick it to the hedge funds" attitude by buying the stock and ending up losing the money. It's looking more and more like other hedge funds got
by WheelsAtLarge 6y ago
I never got the "stick it to the hedge funds" attitude by buying the stock and ending up losing the money. It's looking more and more like other hedge funds got the money small investors put in the stock. There's got to be a better way to protest.
What's interesting to me was that this seemed like the old pump and dump scheme that has been part of wall street fraudsters forever. It's a scheme where a group buys a low price stock, promote it to no end and then dump it as people go nuts buying it. Yet, few if any news services pointed that out.
I hope we get some real answers as time passes. My suspicion is that it was just a pump and dump that got out of hand because it got picked up by the media.
- rich_sasha 6y agoWorse still, I saw some speculation as to what portion of WSB traffic was in fact bots. Regardless of what happened, next time it could be all bots doing the hyping. Cybercrime is already catching on to these ideas, there were reports of criminals breaking into corporate systems to steal financials, then trade off them (or sell to traders). This is all rife for abuse.
- joshspankit 6y agoDefinitely feel like it was bots saying “We’re going after silver now!”
- WheelsAtLarge 6y ago>>Regardless of what happened, next time it could be all bots doing the hyping It's happening with political news. It's only a matter of time before it catches on in wall street.