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[deleted] t1_j0pg6e1 wrote

[deleted]

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scienceworksbitches t1_j0pko5p wrote

the sad reality is that a big part of gen z gets all their Information off of tiktok and such.

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Parabola_Cunt t1_j0pnge5 wrote

Yeah, what a bunch of morons….. everyone knows you should use Reddit for stock advice.

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[deleted] t1_j0povro wrote

[removed]

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PurringWolverine t1_j0q905g wrote

Inverse WSB and Inverse Jim Cramer seem to be pretty solid strategies. Lol

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_Hotwire_ t1_j0qtfam wrote

I just wish I had a few hundred k to lose like some redditors

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PurringWolverine t1_j0r70op wrote

Wouldn’t that be nice. I have a few k that I play with, but no way play the options game.

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saysjuan t1_j0pqsq2 wrote

Reddit?!? What a bunch or morons… everyone knows you should pay attention to CNBC and watch Jim Cramers Mad Money for stock advice.

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pomonamike t1_j0q23gh wrote

CNBC?!? What a bunch of morons… everyone knows you should pay attention to a non-fiduciary financial product salesperson, whoops I mean, “advisor.”

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mlennox81 t1_j0r3yib wrote

Advisors? Those morons should just spend all of their time studying financial reports of companies and combine that with knowledge of previous history of the stock market and studying economics… wait shit that worked for Warren Buffet.

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SlowMotionPanic t1_j0v5b87 wrote

Financial reports? Those morons should just insider trade like Buffet and the rest of Berkshire Hathaway.

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samudrin t1_j123rju wrote

Inside trading? Those morons should just go to r/Bogleheads and buy the market through low cost index funds.

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Kat-Shaw t1_j0qdxqi wrote

Eh to be fair a lot of the people I see falling for these stock market scams are 30+ years old

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Gazzarris t1_j0q5thn wrote

And they don’t want to pay for journalism from reputable sources.

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garuspl t1_j0pknpl wrote

When all you consume is social media, then there's nothing else to base your decisions on. I read that children look for info on tiktok instead of Googling...

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danfirst t1_j0pnsm3 wrote

If by children you mean people in their mid 20s, then yes, I read that too. Crazy to me that you'll take the advice of some influencer trying to farm clicks and referrals for your finance options.

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Metue t1_j0q0itq wrote

I think it's more early 20s and teens than mid 20s. Source: mid-20s, most people I know don't use tiktok

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danfirst t1_j0qby38 wrote

Strange, lots of people in their 40s I know use it. I don't, but I feel like I'm the odd man out.

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Topalope t1_j0qdhib wrote

Is Google not some influencer trying to farm clicks and referrals?

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pm_me_your_smth t1_j0rbdx3 wrote

> If by children you mean people in their mid 20s

Except that the biggest age demographic of tiktok are 10-19 year olds

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TeaKingMac t1_j0rlxc4 wrote

Probably not 10-19 year olds looking for investment tips

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TeaKingMac t1_j0rltzu wrote

Lately lots of /r/<technologyhelp> posts are easily googleable questions, and people think it's easier to ask reddit directly, than Google the answer (which likely has a top result that's a reddit post from the last time somebody asked)

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The_Law_of_Pizza t1_j0qakj2 wrote

I generally agree - these "victims" are greedy assholes who think that they are about to pull one over on somebody else by knowing this secret insider pump information.

They thought they were going to make somebody else be a bagholder, but were instead the rubes holding the bags. I don't have a lot of sympathy for that.

On the other hand, this is becoming endemic across social media, and is starting to be a serious sociological issue.

Look at the subreddit "MMAT," which was a gaggle of ignorant dumbasses focused on trying to create a short squeeze, but they didn't understand what they were investing in, and now own worthless private, untradable shares of a defunct oil field.

BBBY (the subreddit for Bed Bath and Beyond short squeeze investors) and GME or Superstonk (for Gamestop short squeeze investors) are basically headed down the same path - there just isn't a hard conversion event forcing those groups to fail immediately like with MMAT. But inevitably both companies will see a long, slow slide into obscurity and/or bankruptcy and we're going to have a ton of dumbasses shrieking that they lost all their savings.

At the end of the day, these pump and dumps, or these short squeeze conspiracies - it's all the same crazy nonsense mixed with greedy rubes who think that they're the ones who know some secret, and that they're going to pull off some hijinks to eat somebody else's lunch.

Normally, nobody would have to care that a bunch of mouth breathers lost their shirts by gambling on some dumb investment scheme.

But these are becoming so prevalent now that the general public is starting to lose its sense of normal. People are beginning to not be able to see these conspiracy cults and/or scams for what they are.

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Poppadoppaday t1_j0s6ut2 wrote

I think BBBY and possibly AMC will implode sooner rather than later. They both have horrible financials. DWAC is looking dicey as well. GME probably has a couple of years, maybe more if they're smart enough to dilute again before share price gets too low.

I think the current meme stock bubble will pop, but when it happens will depend on whether too many GME people jump ship next time they dilute. Eventually people will forget about the current crop of busted stock conspiracies and the cycle will start again

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mavrc t1_j0qwa50 wrote

"I don't mean to be heartless, but how sympathetic am I expected to be for someone who takes stock-investment advice from some loudmouth on television?" - WSJ reader, 1982

Ok, that was probably a little snarkier than intended, but still: media's media. And there are rules for how you can talk about stocks on media, especially things you have a financial interest in.

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[deleted] t1_j0qz8kj wrote

Blame the victim much? It wouldn't hurt to show a little empathy for your fellow humans who was conned out of their money

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fuckeh t1_j0r97b8 wrote

They’re trying to be ahead of the curve. I heard about bitcoin years before most people did because early Reddit was all about it. Wish I bought some back then.

Thing is today everyone is trying to buy into the next big thing. And now people start currencies just to pump and dump them.

I haven’t trusted crypto for years personally. I remember someone bought some huge chunk of bitcoin in like 2013 or something and to me that was just fishy. It was the type of purchase a bank or a billionaire would make and to me that just meant someone took control of it.

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Seagull84 t1_j0qhhwr wrote

So the real problem is the victims who don't know what they're doing and look up to these influencers?

Don't let these influencers get away with it by blaming the people they KNOW they have influence over and manipulate.

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Echoes_of_Screams t1_j0rnp77 wrote

I mean uneducated people who are lied to by influential public figures are very vulnerable to these scams. That is why they are illegal.

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derpderpdonkeypunch t1_j0q6866 wrote

Twitter, and the financial subset of Twitter referred to as "fintwit", is an invaluable resource for fast news alerts that affect the stock market. Unless, ya know, you've got the money for a Bloomberg Terminal.

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SquizzOC t1_j0s4uv0 wrote

I love the down votes on this. The only people downloading this are those that have a safe 401k and have absolutely no clue what it actually does

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skralogy t1_j0q6ycb wrote

Well now that social media has become a majority of actual media probably somewhat sympathetic.

Hell people have been taking stock tips from Jim Cramer for years and he is mainstream.

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SquizzOC t1_j0qed4q wrote

The majority of my education came from different social media influencers when it comes to day trading, which I’m doing exceptionally well on.

This group in particular however I did find when I first started trading and it cost me a bit of money, but it was obvious what they were doing after losing money on 3 or 4 trades they called out, however I trusted some of their call outs after they made me a lot more money.

That brought me to following guys that actually talked about charting, patterns, supply and demand zones, fibs, etc….

While it may seem ridiculous to trust these guys, there were a ton of others making money on their plays but having more self control and getting out of the play before they dumped their shares.

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