Good Morning All,
Curious as to the classes' thoughts re this GME, etc., public short squeeze by folks using Redditt, Wallstreetbets.
I have great concerns as it's what I call "Bro-Investing" but by no means mean that as a negative, plenty of women trading, posting on the board there, plenty of folks who are trading out of their basement but also likely plenty of folks trading out of multi-million dollar homes off the beach..who really knows.
If you poke around on that board you see phrases like, "hedge funds having to cover by selling their "Boomer" stocks, i.e, the JNJs etc.
I used to work with many young folks and I'll be the first to tell you they think differently, are very smart and do NOT buy into the "way things were" , don't like to take advice from a silver haired elder, do business and life thru their cell phone and all were on Redditt.
I've posted before about the sports gambling, Penn National, Bitcoin, these young bucks aren't going to sit around and wait to collect their 2.7% divvy from their old line stock, they have no fear and understand optionality and risk.
Stock market has been "gamified"...similar to playing poker or betting on the Super Bowl.
Have to agree for the first time in my life with AOC when she asks how can trading be restricted on RobinHood for the average person but the hedge funds can trade as they see fit...she's got a point.
What impact could this have on the markets and mutual fund investing? Do you see this blowing over as the media moves onto the next sound bite?