None of this would be necessary if everything were still available on social networking sites. Only the last few years have seen the explosion of zero-commission trading programs that allow for easy access to the stock market — and suddenly people are able to follow their love for the meme. The chairman of the U.S. Securities and Exchange Commission, Gary Gensler, often criticizes how Robinhood and others “contribute” money – through social media, game information, and video footage on the best Vegas slot machines. But the game goes beyond the obvious: It deals with the ease of use and low cost of the software (until someone comes in, with devastating results) – it’s easy to use so it allows people to spend less time trading instead. of, say, play Candy Crush or playing the guitar. “This is just a hobby, in many ways: It’s a small amount of money,” says Mel Stanfill, an assistant professor of sports and social media at the University of Central Florida. “But at a lower rate, smaller amounts become more capital that can move the market.”
Combine a financial meme with a useful app and you get a GameStop moment. Were people on r / wallstreetbets convinced of the potential of the GameStop business? The “fans” among them – people like Keith Gill (aka DeepFuckingValue), one of the most vocal promoters – seemed to think the seller was about to make a comeback. Do people on r / wallstreetbets try to punish hedge funds? Some were real (and some of their ruthless groups on the QAnon-themed Telegraph groups plotted against Semitic in a vicious way). But most of the rest were just happy, writing as much as they wanted. “see the moon”And“love this property”—Their goal was to continue raising GameStop prices, and to continue playing online with their peers.
Naturally, memes came home to be more resilient this year, as millions of people around the world, forced to shut themselves down by the plague, got tired of looking at entertainment. On top of that, the US government issued a $ 1,200 promotional check, providing the right amount of cash for many uneducated entrepreneurs. However, economic transformation was only temporary. It was already raising its head in 2020, with an impressive performance smaller shares like Kodak or Hertz, with the help of a simulation method and sell on startup software. But, really, you can go back to cryptocurrency.
Before people on r / wallstreetbets said they liked meme stocks, people on other pages, as well as on Telegram and Twitter, were shouting their wrong words, “HODL.” That is, “hold on,” like buying a cryptocurrency – from Bitcoin to the most recent currencies – and keeping it in your wallet hoping the price goes up. again, for the Moon. If spending a fortune to keep a brick-and-mortar store during a pandemic takes a lot of confidence – or a lot of distrust – the leap of faith that requires you to save money in foreign currencies whose value is confirmed by its online popularity is astounding. And yet, all of a sudden GameStop chaos came Dogecoin change, and the Robinhood group is pumping a parody cryptocurrency, marked by a meme dog, from $ 0.0041 on January 1 to $ 0.50 in May. Elon Musk, a Dogecoin fan, kept a close eye on Dogecoin-filled tweets and Dogecoin shouts. Saturday Night Live. In the second quarter of 2021, Robinhood earned $ 144 million from Dogecoin trading. (Robinhood generates revenue from market makers who place real trades, using a counterfeit method called system payment.)