Wall Street’s Most HATED Stock

In a real twist of irony, one of Wall Street’s most hated stocks is set to Join the S&P 500 later this month.

Cue up:  Robinhood (HOOD)

Remember them?

Robinhood skyrocketed to infamy back in January of 2021 when a group of basement-dwelling millennials were credited with altering the game on Wall Street.

They were a motley crew of small investors who teamed up on Reddit under the guise of the Reddit Rebels using Robinhood as their broker of choice.

The forum on Reddit r/wallstreetbets:  was the specific Reddit forum where much of the planning and discussion for the GameStop (GME) event took place.

And the event of notoriety was how, in early January 2021, GME (then trading under $20 per share) made a moon-shot move to $483 in just six trading days.

Soon afterward, everyone focused on GameStop’s roller coaster ride from $347 to $483 back down to $112 then back up over $300 and closing at $193.60…all in one day.

Ironically (or NOT) the after-market trading that same day saw GameStop surge over 118 points to $312.

One of the more famous Reddit Rebels went by the handle “Roaring Kitty Bandit.” (AKA Keith Gill).

And in the process of making a fortune (estimates are as high as $267 Million a/o 12/24) Gill clipped the wings of several evil Wall Street Hedge funds in the process.

One of the more notable losers, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value from the start of 2021, and by the end of January had suffered a loss of 53 percent of its investments.

Most Hated Stock

AS expected, when the Wall Street Boyz take it on the chin they cried “mommy! Mommy! HELP!” to their bought-and-paid-for cronies at the SEC.

And just like that, trading GME was restricted.

This gave the elite 1% some breathing room and time to circle the wagons until they could figure out how to deal with the Pesky Reddit Rebels and Robinhood.

This was a classic “Short-Squeeze” that caused major controversy and widespread criticism.

And it sparked accusations of market manipulation eventually leading to multiple lawsuits and a U.S. congressional hearing.

Moral of the story:  Beware…Wall Street is a sore and VERY VINDICTIVE LOSER.

Ironically (or NOT) what was once Wall Street’s Most Hated stock has now been admitted onto the list of the largest publicly traded companies in the US.

And this follows a run that saw Robinhood – the easy-entry brokerage platform – explode in usage over the past several years.

Yaaaaaayyyyyy for the little guy…who is not so little anymore and soon to be member of the S&P 500.

One more noteworthy event about Robinhood…they also became an early adopter of cryptocurrency, allowing users to buy and sell bitcoin through the crypto rally of the last 4 years.

So, who’s the next Robinhood?

We can’t say for sure but we reveal who we think it is in our upcoming September newsletter.

Be sure to read it (HERE).

And share this with a friend…especially if they made any money on GameStop.  They’ll thank YOU later.

And tell them:

We’re Not Just About Finance

But we use finance to give you hope.

“And you shall know the truth, and the truth shall make you free.”

~John 8:32~