Economy

Anonymous banker says: 3 stocks could become the new game stop

@ litquidity / Instagram

Litquidity has a fan base of around half a million people on Instagram. It’s the platform’s most popular financial meme account, run by an anonymous Wall Street banker in his late 20s. He started the account in 2017 when he had some free time between job changes. His circle of friends consists of people who work in investment banks, hedge funds, private equity and venture capital firms. So he created the account to share fun experiences that they could all relate to.

“In this way we can exchange common experiences that we have made – we work late in the evening, have to deal equally with difficult managers who are very demanding and have a lot of stress at work. But we also share similar thoughts and enjoy the same things as going to bars in New York City, ”Litquidity said in an interview with Insider.

The Litquidity account quickly found a large audience in the financial world for exposing the lifestyle of a Wall Street employee. Some of Litquidity’s own colleagues often unwittingly send him his own memes. “One or two employees might know, but it’s more of a suspicion,” he said. “Basically, it’s just my friends and family who know that I’m running the account. I try my best to maintain anonymity. ”

He noted that there is a demand for knowledge and information about the stock market. Since events happen very quickly in the financial world, it is easy to miss them. So around the time the day trading craze sparked by Reddit was driving Gamestop’s shares high last month, Litquidity launched a newsletter called Exec Sum. In doing so, he tries to help readers untangle what is happening on the market.

The mark describes itself as “the smallest daily newsletter that covers all topics of Wall Street and Silicon Valley with a few memes”. The newsletter, for which he has already won sponsorships, is intended to serve as a source of income to supplement Litquidity’s merchandise and advertising business. Apart from Gamestop, these three stocks also have “meme potential”, according to the anonymous banker:

DraftKings. “I think there is a strong connection with the personalities involved in Wall Street bets. In the same way that there are degenerate stock traders making hair-raising investments, sports bettors put their money on soccer, football or basketball games. It’s the same kind of people who throw money around and they can either get a big hit or lose a lot. “

Virgin Galactic. Because the association “flying to the moon” is a “natural fit” for the space company.

Penn National Gaming. “You are now the majority owner of Barstool Sports. Dave Portnoy is such an electric persona, he’s a meme in his own right. It could be treated as a meme through sports betting. “

Litquidity said its brand is still in the early stages. So he wants to keep making good content and entertaining people. In addition, he wants to focus on providing information so that more people can understand the financial world.

This article was translated from English and edited by Ilona Tomić. You can read the original here.

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