{"id":5454,"date":"2021-01-27T09:38:13","date_gmt":"2021-01-27T17:38:13","guid":{"rendered":"http:\/\/technarrativelab.org\/?p=5454"},"modified":"2024-01-29T17:34:08","modified_gmt":"2024-01-30T01:34:08","slug":"reddit-to-the-rescue","status":"publish","type":"post","link":"https:\/\/nostatic.com\/lab\/2021\/01\/27\/reddit-to-the-rescue\/","title":{"rendered":"reddit to the rescue?"},"content":{"rendered":"\n<p>via Todd Richmond<\/p>\n\n\n\n<p>The stock market is an interesting beast, and there are rules that try to control manipulation and things like insider trading. But in a hyper-connected world where details are often available for those that look, is it time to rethink the model?<\/p>\n\n\n\n<p>Witness the <a href=\"https:\/\/www.cnbc.com\/2021\/01\/27\/hedge-fund-targeted-by-reddit-board-melvin-capital-closed-out-of-gamestop-short-position-tuesday.html\" target=\"_blank\" rel=\"noreferrer noopener\">interesting story<\/a> of Game Stop. This brick and mortar operation, like many others, has struggled due to a variety of factors. Some high profile hedge funds shorted the stock, expecting Game Stop to continue circling the drain. But then the sub-reddit &#8220;wallstreetbets&#8221; decided they didn&#8217;t like the shorts and started buying, driving the stock up. Way up. Like from $6\/share to $140\/share up. That resulted in huge losses for the hedge funds when they had to close out their short position.<\/p>\n\n\n\n<p>So&#8230;just desserts for the hedge funds, illegal manipulation by an internet forum, reddit users having a good laugh, or all of the above? As congress begins to ponder section 230 protections for tech companies, they can add this dynamic to the fire and see what burns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>via Todd Richmond The stock market is an interesting beast, and there are rules that try to control manipulation and things like insider trading. But in a hyper-connected world where details are often available for those that look, is it time to rethink the model? Witness the interesting story of Game Stop. This brick and&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,17],"tags":[70],"class_list":["post-5454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-creativity","category-government","tag-todd-richmond"],"acf":[],"_links":{"self":[{"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/posts\/5454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/comments?post=5454"}],"version-history":[{"count":1,"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/posts\/5454\/revisions"}],"predecessor-version":[{"id":6555,"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/posts\/5454\/revisions\/6555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/media\/5455"}],"wp:attachment":[{"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/media?parent=5454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/categories?post=5454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nostatic.com\/lab\/wp-json\/wp\/v2\/tags?post=5454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}