There is an uncontained spark in the financial world today, a spark that emerged from the unlikeliest of places, a federal courthouse in Florida.
It’s a spark with the potential to light a searing bonfire under Robinhood and Citadel.
What are Meme Stocks
Meme Stocks are stocks that have gained incredible popularity and value through social media. It's a fast rise and fall that deals more with public opinion than company performance. We've recently seen a huge increase in meme stocks with the rise of platforms like Robinhood.
Podcasts about Memestocks
What’s happening with Reddit and Gamestop and Robinhood is a revolution, but not the revolution you think.
This isn’t a “democratization” of Wall Street. You were played. Again.
It’s a revolution in Common Knowledge. And that changes everything. Again.
You have been told that the odds are ever in your favor. You have been told this for your entire life.
More and more, you suspect this is a lie.
Over the past few weeks you have been told a new story. A brave story. You have been told that by banding together and acting as one, you can “democratize” the stock market.
Today, as you see the collapsing stock prices of the companies you supported, you suspect that this was a lie, as well.
What’s happening now in equity markets isn’t the product of some paradigmatic democratization of finance. It’s just another bubble that will end badly.
The Very Serious Investor is quite disturbed by recent goings-on in illiquid, small cap stocks with high short interests. These happenings represent an assault not only on the Very Serious Investor’s livelihood, but his entire cosmology. People placing profitable discretionary trades in the financial markets when they lack even a single Ivy League degree. Imagine!
No, the real story here probably isn’t about a revolution against Wall Street. But that doesn’t mean that there isn’t an opportunity to build a movement – right now – to transform it toward fair, free and open markets.