Robinhood Never Knew Reddit Mania A Game Changer?

Robinhood. “Rob from the rich, give to the poor…” Get it? The Joe & Jane day traders have been supposedly cleaning up on AMC & GameStop stock at the expense of the “institutional” investment firms who have been getting their clocks cleaned. The recent trading frenzies and the taking of big gains via online brokerage Robinhood Markets were temporarily halted, then, started up again when it got a billion dollar infusion of capital to do what? Keep feeding the trading monkey on social media message boards? Apparently so.

The Wall Street Journal can’t keep up with the news updates. One Friday headline read, “U.S. Stocks Fall As (Renewed) GameStop Frenzy Builds.” An inch away was another story titled, “Insiders at GameStop, BlackBerry, LaCroix Maker Sit on Big Stock Gains” because “Reddit-fueled trading in long-struggling companies boost holdings of CEOs and directors , though few have reported cashing in.” If that sounds confused if not contradictory to you, welcome to the club.

The bottom line, however, is that stock market history is being made, it’s just hard to tell what the history will say when the dust, er, trading clears. Noted the WSJ as a for instance: “The founder & CEO of National Beverage Corp, which makes LaCroix sparkling waters is worth $2.5 billion more than he was at the beginning of the year.” Despite denials, rumors that other execs aka insiders at other companies HAVE taken big gains is already on the street. The SEC is said to be looking into it. Natch. Meanwhile, the WSJ talked to the trader known as DeepF—ingValue who “drove the GameStop Reddit mania” insisted, “I didn’t expect this.” Natch.

Davd Soul