“WSB veterans know that they're making a suicide charge for the memes”

Re:“WSB veterans know that they're making a suicide charge f... by depingus on Tuesday February 02, 2021 @01:16PM (#26004485)

If those are the only 2 things you've taken away, then you haven't been paying attention. Yesterday's whole "Reddit moves to silver" narrative plastered all over mainstream financial media was a pack of lies. Bots have been flooding the subreddit with misinformation. And today eToro accidentally triggered a massive sell off of their users' $GME by incorrectly setting their stop loss.

Sure, we've all seen the movies; "hedge funds cheat" is not new information. But this is all very out in the open and very directly targeted at retail investors. There's a lot of noise being made and everyone has taken notice. I would argue the state of everyone's knowledge has advanced.

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Re:“WSB veterans know that they're making a suicide charge f... by lasagnaphil on Tuesday February 02, 2021 @02:02PM (#26005084)

This: there's definitely misinformation going on both sides (both on wsb and the media). You can't really trust anyone in a full-fledged war, and I think this is one of those situations. For those who didn't put money on this, let's wait and see how it goes.

Although the truth is, retail traders are incredibly disadvantaged due to immense informational asymmetry. Hedge funds probably have access to all the data they want (for example, Citadel having access to Robinhood trade flow), but ordinary people have to first wade through all the misleading information both on mainstream media and on social media, so it's a pretty hard fight. But regardless of the results, I think there would be much more distrust towards financial institutions and mainstream media overall due to this event, and this would be only the beginning of 2021.

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