Nerds slay Wall St bears

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Via WSJ:

Traders piling into AMC are seeking GameStop-like gains in other companies following the recent excitement in social-media groups.

“Right now there’s a whole movement of the nerds vs. Wall Street,” said Chicago resident Ronald Clark, who traded into AMC shares on Tuesday after seeing a friend post about it on Facebook.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.