1. Attack of the stock market lemmings.
- Author
-
Miao, Hannah and Banerji, Gunjan
- Subjects
YOUNG adults ,STOCKS (Finance) ,LOTTERY tickets ,STOCK options - Abstract
Amateur traders known as "degens" are fueling a new wave of "memestock mania" in the stock market, similar to what happened in early 2021. These traders reject traditional financial advice and instead embrace a YOLO (you only live once) mentality, believing that buying high-risk stocks or options is better than a lottery ticket. The re-emergence of online trader Keith Gill, also known as Roaring Kitty, has re-engaged these traders, who coordinate their trades on platforms like Reddit and Discord. When these degens stick together, they have the potential to cause significant fluctuations in asset prices. [Extracted from the article]
- Published
- 2024