RE:An argument against the "reddit" theoryI agree stayinvested -
been discussing with fellow investors and friends the exact same point.
I think the reddit/stockwits new retail helped, but this is outside that.
Retail is a fraction of whats going on.
StayInvested wrote: I highly doubt that this is the case with Fire. Volume has been increasing steadily for over two months now, long before this "Reddit" fiasco started to occur. While I'm sure there is retail investment occuring here, I feel like the volume and magnitude is outside the realm of retails capabilities.
103 million shares traded yesterday, at an average of around .39. Thats over $40,000,000 in shares traded. I can't believe that is all due to reddit and traders.
While it is nerve-racking to be in this sort of volatility, I do firmly believe there is something fundemental behind this. ETF balancing may be a big part of the volume, but as I stated, this has been ramping for a while.