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If all this is limited to the social media realm, then nothing matters. In addition to witnessing the explosive growth of zero-commission trading apps that allow easy access to the stock market over the past few years, suddenly people can continue their love of memes. US Securities and Exchange Commission Chairman Gary Gensler (Gary Gensler) often criticizes Robinhood and its peers for how to “gamify” investment-by adding social media-like features to the best slot machine tradition in Las Vegas, witty Push notifications and confetti animation.But gamification is more than just fancy visual effects: it has to do with the ease of use and cheapness of these trading apps (until someone goes all out, which can have devastating consequences)-they are so useful that people You can pass the time by trading, for example, playing Candy Crush Or play the guitar. “In many ways, it’s just a hobby: it’s a little bit of money,” said Mel Stanfield, an assistant professor at the University of Central Florida who specializes in games and interactive media. “But in terms of scale, a small amount of money will turn into a huge amount of money that can promote the stock market.”
Combine financial memes with convenient apps and you will get GameStop moments. Do people on r/wallstreetbets believe in GameStop’s business potential? The “fanatics” among them — such as Keith Gill (aka DeepFuckingValue), one of the stock’s most outspoken advocates — do seem to think the retailer is about to make a comeback. Are people on r/wallstreetbets trying to punish hedge funds? Some people must be (and some of their less palatable associates in Telegram’s QAnon theme group expressed this attack in vile anti-Semitist terms). But many others just for fun, write down what they want”Look at the moon” and”Like this stock“-Their goal is to continuously increase the price of GameStop and continue to play with their online friends.
Obviously, memes were very popular this year, when millions of people around the world were forced to lock down due to the pandemic. They were bored and looking for pastime. Most importantly, the U.S. government issued a $1,200 stimulus check, which provided many amateur traders with the necessary cash feed. However, financial imitation has been brewing for some time.It has already emerged in 2020 with incredible success Smaller stocks such as Kodak or Hertz, Which is supported in a similar way through the trading upstart application. But, in fact, you can bring it back to cryptocurrency.
Long before the people on r/wallstreetbets announced their love for meme stocks, other subreddit and people on Telegram and Twitter had been calling their misspelled motto “HODL”.In other words, “holding” is like buying a cryptocurrency — from Bitcoin to the latest scam coin — and keeping it in your wallet, hoping that its value will soar Again, go to the moonIf it takes a lot of confidence or nihilism to spend a lot of money to hoard the inventory of physical chain stores during a pandemic, then the belief required to invest your savings in a new currency whose price is determined only by the following factors will leapfrog its popularity online The degree is incredible. However, just after the GameStop frenzy, Dogecoin frenzy, With Robinhood travel Imitating cryptocurrency, Its symbol is a meme dog, from $0.0041 on January 1 to $0.50 in May.Elon Musk, who loves Dogecoin, maintains a high level of attention through a series of Dogecoin-filled tweets and yelling at Dogecoin Saturday night liveIn the second quarter of 2021, Robinhood received $144 million in revenue from Dogecoin transactions. (Robinhood makes money from market makers who place actual trade orders through a controversial mechanism called order flow payment.)
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