Reddit co-founder says meme stocks' moniker 'charming' but momentum investing isn't new

  • 📰 CNBC
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

'It's way bigger than a phase,' Tasty Trading founder Tom Sosnoff on meme stocks and what could be next.

told CNBC on Thursday that the meme stock frenzy — which traces its roots to the online forum website he helped create — is what happens when momentum investing is amplified by technology.

"Really, the existence of people getting whipped up and excited about a stock has happened, you know, it's happened around barbershops. It's happened around bars," Ohanian said in an interview on"Retail investors have just never been able to jump on an opportunity in real time, and this is what it's like in the age of ubiquitous social media."

"Meme stocks, it is a charming name, but I think at the end of the day, momentum investing is nothing new," added Ohanian, who in 2005 co-founded Reddit alongside current CEO Steve Huffman. Ohanian, now a venture capitalist, stepped down from Reddit's board last

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I'm shocked let a guest on knowing his positive thoughts on meme stocks. Overall CNBC is a joke. And they take AMCPARTY AMC AMCAPES like a joke. Well joke's on you, we own 98% of this stock. And it's only going up. In summary....F U and jimcramer

This is healthy and needed disruption!! Is a positive polar shift!!! A generation hungry for the truth and questioning this idea of the status quo!!! A courageous generation wanting to level the playing field so that it is equal to all the players!!! It’s common sense!!!

horrible

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GameStop, Clover Health, AMC, Chewy: What to Watch When the Stock Market Opens TodayMeme stocks posted a mixed performance, with GameStop down premarket after the videogame retailer said it was considering a new equity offering $BBBY is a fundamental squeeze! 🍋
Source: WSJ - 🏆 98. / 63 Read more »