Beyond Reddit: How Social Media Is Insinuating Itself Into The World Of Investing
The role of social media in investing has grown rapidly in recent years. The greatest proof of this influence came in the form of Reddit’s WallStreetBets forum, which drove the valuations of many heavily shorted stocks significantly higher at various times throughout the first half of 2021. The retail investors who had read and posted on WallStreetBets were seeking retribution for the perceived wrongs of the many hedge funds that had shorted those stocks by purchasing them, driving their prices higher. Q3 2021 hedge fund letters, conferences and more Ben Bilski, founder and CEO of NAGA Group, ...