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What happens to the foot soldiers of the meme trading revolution?


Nasdaq
fintech
Coinbase
PayPal
Robinhood
GameStop
AMC
Bath
Beyond
Bitcoin
Ethereum’s
MSNBC
Diamond
GameStonk
Chow
Musk
Congress
Block
Afterpay
Klarna and Affirm
Verge Deals


Meme
Jack Dorsey
Charles Schwab
Chris Garcia
Alvan Chow
Elon
Alisha B. Woods
Matt Kelly
’d
Keith Gill
Afterpay


Reddit

No matching tags


Square


painFintech
Gamestonk

No matching tags

Positivity     50.00%   
   Negativity   50.00%
The New York Times
SOURCE: https://www.theverge.com/2022/5/11/23067404/meme-stocks-gamestop-crypto-sell
Write a review: The Verge
Summary

And one thing this documentary makes absolutely clear is that the narrative mattered most to the people who understood the least about the financial markets.These investors yoloed into the market during the pandemic, often specifically using upstart service Robinhood. “Nothing against Charles Schwab, or any of the other ones, but they just looked like my father should be there, not me,” says Chris Garcia in the documentary. (In the documentary, this post is charmingly read by his brother because he finds his own language “cringey.”) He buys into GameStop at $6 to $8 a share, spending $30,000. “I didn’t feel like I gained $350,000,” Kelly says. When Keith Gill told Congress that he liked the stock, Kelly bought again, selling shares in other companies. Some of these companies were talking about their wallet offerings on the earnings calls — reminding investors that people spend more when they deposit their paychecks directly into PayPal or Block, which means that the companies make more.

As said here by Elizabeth Lopatto