Here's a background into the story:
TLDR; On 28 January 2017, a Canadian man known as "FS Comeau" on Reddit had lost over $1.5 million in the past and decided that he would have a "Final Yolo"- massively shorting Apple stocks through earnings with a capital of $100,000. This man posted it on Reddit and started to garner the attention of many people, even MarketWatch interviewed the man.
You can find a short summary of the interview here: This trader bets it all on Apple getting crushed after earnings
Guess what happened?
Well, to WSOers here, I'm guessing you already know that Apple's iPhone sales bounced back after three consecutive quarters of decline thanks to the first full quarter of iPhone 7 sales, helping revenue and earnings top Wall Street expectations. Beyond iPhone, Apple earnings leave little to cheer about
This pushed Apple's stock 3% higher, which means: The man lost all his money.
Here's the catch: The man faked his bets. "FS Comeau" faked this whole thing. He faked the trading, the shorts, and who knows what else did he fake? The D in front of his account means it's a "DEMO" account. Picture for Reference
The real question: Is this man a genius for having a cult following and having thousands of people believe in him, or is this man a crook for some kind of market manipulation?
In addition, what do you think his incentive was? Attention? Popularity?
Whatever it is, he's definitely a notorious man now.
WSO, you decide.
The dude is a troll, as is that whole forum. I don't get why anyone takes anything that comes out of that sub even remotely seriously.
I agree with you, but don't ever underestimate the power of stupid people in groups. They can change the course of the stock market (or even a country :-) )
What do you mean? This is where I get all of my investing ideas.
I just inverse whatever those idiots are talking about.
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