The Investopedia Express with Caleb Silver

How the Trolls Took Over Wall Street, and Where They are Now

Jul 1, 2024

Author Nathaniel Popper discusses the rise of meme stock trading from Occupy Wall Street to online forums like 4chan, showcasing how trolling has become part of the trading culture. He highlights the lasting influence of retail traders and the impact of Robinhood on democratizing trading. The podcast explores the gamma squeeze phenomenon and the Chevron deference doctrine's role in environmental regulation cases.

35:48

Episode guests

Nathaniel Popper

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Meme stock explosion originated from Occupy Wall Street, connecting disillusioned traders via trolling.

Market breadth divergence levels are concerning due to overconcentration in leading stocks.

Deep dives

Key Point 1: Market Performance in First Half of the Year

The S&P 500 exhibited a strong performance in the first six months, up by 14.5%, marking the most robust start to an election year in history. The AI industry played a significant role in this surge, with other stocks also contributing to the market's growth.

Intro

2min

Market Performance and Company Overview

6min

Trading Trends in July and August, Jobs Market Updates, and Culinary Experience Announcement

2min

The Rise of Wall Street Bets and Trolling Culture

10min

The Evolution of Retail Trading and the Influence of Robinhood

11min

Exploring Gamma Squeeze and the Chevron Deference Doctrine in Wall Street Bets and Environmental Regulation

4min

Nathaniel Popper joins The Express to talk about his latest book, "The Trolls of Wall Street: How the Outcasts and Insurgents are Hacking the Markets", and explains the origins of meme stock explosion which actually took root during Occupy Wall Street, and made their way through online forums like 4chan where throngs of disillusioned young men found community in the stock market. Popper draws the through-line from the Great Financial Crisis through the birth of Robinhood, Reddit and ultimately wallstreetbets, where trolling is the language of trading. If you thought this community of traders went away with the pandemic - think again. They are here to stay, and that could be good news for all investors.

LINKS FOR SHOW NOTES

https://www.investopedia.com/terms/v/vix.asp

https://www.ndr.com/

https://sentimentrader.com/reports

https://www.carsongroup.com/insights/blog/here-comes-the-best-month-according-to-the-past-20-years/

https://www.investopedia.com/terms/s/skew-index.asp

https://www.investopedia.com/what-to-expect-in-the-markets-this-week-8670691

https://www.amazon.com/Trolls-Wall-Street-Insurgents-Outcasts-ebook/dp/B09L8CSDYW

https://www.nathanielpopper.com/

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