'It's way bigger than a phase,' Tasty Trading founder Tom Sosnoff on meme stocks and what could be next.
told CNBC on Thursday that the meme stock frenzy — which traces its roots to the online forum website he helped create — is what happens when momentum investing is amplified by technology.
"Really, the existence of people getting whipped up and excited about a stock has happened, you know, it's happened around barbershops. It's happened around bars," Ohanian said in an interview on"Retail investors have just never been able to jump on an opportunity in real time, and this is what it's like in the age of ubiquitous social media."
"Meme stocks, it is a charming name, but I think at the end of the day, momentum investing is nothing new," added Ohanian, who in 2005 co-founded Reddit alongside current CEO Steve Huffman. Ohanian, now a venture capitalist, stepped down from Reddit's board last
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former Reddit CEO’s New Startup Terraformation Raises $30 Million To Restore Forests And Tackle Climate ChangeFormer Reddit CEO’s new startup Terraformation raised $30 million to restore forests and tackle climate change
Read more »
How AMC and GameStop became Reddit favesYou've probably heard of the FAANG stocks: Facebook, Amazon, Apple, Netflix and Google owner Alphabet. But it's the BANG stocks of Reddit WallStreetBets meme fame that are now taking the investing world by storm.
Read more »
AMC Insiders Sold $9.5 Million In Stock—Securing Nearly 2,000% Return—During Reddit-Fueled Surge This MonthThe company sold $587 million in stock last week with help from its emphatic Reddit investors.
Read more »
AMC Insiders Sold $9.5 Million In Stock—Securing Nearly 2,000% Return—During Reddit-Fueled Surge This MonthThe company sold $587 million in stock last week with help from its emphatic Reddit investors.
Read more »
GameStop, Clover Health, AMC, Chewy: What to Watch When the Stock Market Opens TodayMeme stocks posted a mixed performance, with GameStop down premarket after the videogame retailer said it was considering a new equity offering
Read more »
Shop Lauren Santo Domingo's, Moda Operandi's Co-Founder, Top Brands for Work ClothesLauren Santo Domingo of Moda Operandi shares how she built the company and what she actually wears to work 24/7. Hint: her outfits are always stylish but understated.
Read more »