Now Playing at a Stock Exchange Near You: Reddit Bettors

Guess who’s back, back again.

Reddit’s back, tell a friend.

My apologies to Eminem, but AMC Entertainment ( AMC) , one half of the Wall Street Bets dynamic duo, is back stealing the spotlight. Not just the spotlight, but a huge chunk of the trading volume on the New York Stock Exchange, as well.

Am I trading it? Nah. Not today. I don’t have the bandwidth to tick this one nor the excess emotional capital to get involved. Heck, if you even tweet something that insinuates the action is non-logical or the stock may not go to $500, you get accused of FUD. You know FUD, right? Fear, uncertainty, and doubt.

Or what us old-timers call: the other side of the trade.

Look, I don’t care if you think this valuation makes sense. It doesn’t. Or you think it is going to $50. It might. The other side of the trade isn’t FUD. It’s what makes moves like this possible. People have this misconception that a one-way market will be great for their stock.

No. Heck no.

You want shorts in there. You want folks who may have to buy because it will push price and draw in more momentum players. You need more fools if you want to participate in a Greater Fool Theory. You want lots of fools. Heck, give me all the fools! The more fools in, the less likely you’ll be made a fool of when you finally exit.

We talked about seeing stock speculation pick up again when the crypto speculation in alt coins died down. Well, it’s happening. The money didn’t simply return to fiat. It went back to memes and penny stocks. Some point soon, these companies will have dumped so much stock on the market even the Reddit army will fail to really get things move. I think that’s what we’re seeing with Sundial Growers ( SNDL) now.

If AMC and GameStop ( GME) were smart, they would hit the market again for as much stock as they felt it could bare. Better yet, get an ATM going since a single offering probably won’t get done easily. The market is handing you a gift again, GME and AMC. Get every penny out of it you can!

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