At the center of the ongoing stock market frenzy, the creators of the Reddit Forum called a recently coordinated strategy to pump “train debris” to sick stocks like GameStop and AMC.
Jaime Rogozinski, 39, who founded Reddit’s r / WallStreetBets in 2012 as a platform to discuss unconventional investment strategies, expressed displeasure over the astronomical rise of the platform in an interview with The Wall Street Journal.
“It’s like watching one of those horror movies where you can see the bad guy slowly going up the stairs,” Roszinski told the newspaper.
“You are seeing this train wreck in real time.”
WallStreetBets has played a major role promoting Gametop, and other similar companies have hosted many amateur investors, raising the stock price.
The move has resulted in billions of dollars of losses for hedge fund companies and the loss of those same businesses.
The report states that Rogozinski, a married father of 3-year-old twins living in Mexico City, introduced WalcraftBets.
In the initial stages, just a few thousands of users subscribed to the channel. Now, after being in the headlines on the GameStop boom, the subscriber base has grown to 2 million.
“A large group of people have organized a seat at the poker table, where there is a seat at the poker table,” Rozinski told the magazine.
“You can no longer ignore them.”
Despite being its founder, Rogozinski was kicked off the stage in April for attempting to end hate speech.
“There were a handful of modems that were simply white supremacist,” he said.
“I have really thick skin and people can say whatever they want from me, but at some point have a moral attitude – like with my kids, I don’t want them to think, ‘Well, they You can say whatever they want about you, ”he told the paper.
Adding insult to injury, Rogozinski said he received a call last week from Citron Research founder Andrew Left – one of the companies that shortened GameStop, which has grown to reduce GamesTop – Those who said that Walcatbits users were threatening their family.
Rozowski was upset by this, and condemned the threats, but could not do much about them.
“Now this is not what it used to be,” he told the stage.