Thursday, December 23, 2021

Stocks For Muppets

This is what "our" stock market has become:

The basic issue is that right now everything is dumb … Buy some stock in a struggling company and, instead of going out and pitching your plans to BlackRock and Vanguard, get on Reddit and say like "if my board slate is elected we’re gonna take XYZ Co. to the moon and squeeze those short sellers, rocket emoji rocket emoji rocket emoji, not a proxy solicitation, read my SEC filings for full disclosures." Draw a picture of an ape riding a rocket and slap it on your proxy statement. Call your activist fund Diamond Hands Capital LP.

Basically you want to buy stock in a company, push it to become a meme stock, and then sell the stock at a huge profit to people on Reddit.

Source - https://www.birchgold.com/news/2021-dumbest-year/

Our land is their land, and fools and their money are soon parted.

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