Will This IPO Be the Ultimate Reddit Stock?
The financial story of the year did not start in lower Manhattan or in the wealthy enclaves of Greenwich Connecticut, but rather on Wall Street Bets-a NSFW chatroom on Reddit. The on-again, off-again meme stock trading frenzy has captured the attention of retail investors, Wall Street, and even Washington politicians.
That's understandable, as many young investors have gotten rich investing in these stocks. De facto GameStop leader Keith Gill, aka Roaring Kitty, posted he made $7.8 million from the stock...and the stock has nearly tripled since then!
It's unlikely the GameStop saga would have occurred without Robinhood as the brokerage's screenshots have become ubiquitous on Wall Street Bets. Still, the company faces a host of high-profile skeptics like Berkshire Hathaway's Charlie Munger and even from users due to its actions during the trading frenzy.
Source Fool.com
