These clowns got lucky that the pandemic came along and the Govt handed out a boat load of cash. This just proves the $ handout was a big mistake. People spent their 2 grand on penny stocks.
The highlight of this article is looking at all the tacky handles of those social media influencers and imagining how stupid they would look in an SEC report. LOL
Reminds me of the following quotes from Jesse Livermore which seems as applicable today as then: "I learned early that there is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again. I've never forgotten that." "The pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes."
In my opinion, these guys did nothing wrong. I have no compassion for the unwashed masses who come to Wall Street and don't bother to educate themselves. I read a tweet yesterday in my feed by some woman who has been trading for about two years and was "shocked" by this news. She even runs a trading podcast apparently. Two years of trading penny stocks and you haven't figured out that first there is the pump, then the initial dump, then the panic buy, then the real dump? If you are not capable to recognizing patterns, you had better find something else to do with your time and money. 100% lol no, but thanks for playing.
If you are in the stockmarket, you have complete and full control of where you invest or which stocks to trade. It is not the place for egotistical, little boys who want to play with the big boys (hedge funds, mutual funds, banks, brokers) who are all heavily capitalized and can withstand deep drawdowns to their capital that retail traders without even any semblance of risk management are trying to beat. You are delusional if you believe you will take the hedge funds monies as opposed to them taking all of your monies.
Besides the deep pockets, you are competing against a TEAM who play against other TEAMS. They work all day, day after day, refining their tactics and strategies with decades of institutional knowledge. It is like a spectator jumping into the pro league to play, when they can't even make it to qualify, to try out for the third-tier farm league.