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Reddit Is the King of Bad Timing

• al_borland 4y ago
  >it earned Mr. Huffman an audience with Congress. He testified that investing advice on the forum was “probably among the best” because it has to be embraced by a crowd. Not the best logic. Crowds embrace a lot of bad ideas. During the height of the Gamestop madness I had some exchanges in WSB questioning some of the claims. At the end of the day, a vast majority seemed to have no idea what was going on or how markets worked. They were just jumping on the bandwagon and blinding throwing money in because reddit told them to. Just because they were able to generate movement by captivating a large enough crowd, doesn't mean it's a great source for investing advice. The whole subreddit seems to be founded on celebrating massives losses and treating stocks like slot machines. Meme stocks just seem like crowd funded pump and dumps. If anyone runs into the WSJ paywall, but happens to have Apple News+, here is the link to the article. https://apple.news/AIYqY8ABYTw6r9Dc8x4xrMA https://apple.news/AIYqY8ABYTw6r9Dc8x4xrMA