A screenshot of a meme posted on Instagram by Litquidity about Melvin Capital, in this screen grab obtained from social media on Jan 28, 2021. — Instagram via Reuters"Stocks only go up", concludes a video montage of televangelists, dancing Ghanaian pallbearers, and Donald Trump's personal pastor repeatedly saying she can hear the"sound of victory".
"So many more people are getting into the stock market through Robinhood and bitcoin, so everyone is now in on the jokes about flipping your stimulus money or Fed intervention sending stocks up," said Lit, the moniker of the man behind Litquidity, which produced the"sound of victory" meme. Website Reddit's wallstreetbets page, which this week picked the pockets of seasoned short sellers by encouraging a buying frenzy on GameStop, added two million followers in the last 48 hours.
This time last year McVeigh had limited interest in financial markets, but, after getting bored during lockdown, he now has a portfolio worth a quarter of his annual salary and a YouTube channel where he blogs about companies.grew its user base by around a third in 2020, with US$1.5bil invested on the platform, a 400% increase from 2019 as stuck-at-home punters splashed their cash.