4 ms·
Because all of the people publishing information about this were playing the options market. There was no need to actually educate anyone on anything. This was
by themagician 3y ago
Because all of the people publishing information about this were playing the options market. There was no need to actually educate anyone on anything. This was a scam. It worked.
One person sees the opportunity it creating a hype train and gets a few buddies on board. Loads up on $1 calls for something they feel could be the next meme stock, like AMSC. Options start to load up on 7/18, just a few days before the 7/22 original drop on arxiv. You get the 7/22 drop and then uploads of grainy videos start to show up. Bank a few million in options contracts as the price of AMSC doubles overnight. Other people see the hype train leaving the station and start their own, using the same strategy.
It's how you end up with a dozen potato quality videos and very specific information attached to the comment threads, "This is going to be HUGE for quantum computing @IonQ_Inc if true."
We have seen these types of market manipulation scams in the past. This was the first time we've seen someone use something like arxiv to do this. Brilliant idea, really. We will see more in the future no doubt.