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nip - darkest before the dawn. In the coming months stories of punters making a killing from junior goldies will have many of those newbies flooding into stock forums like hc with some overspill onto here. When hc really was the wild west back in 2006 or so there was so much chatter there about some stocks that it was impossible to keep up, so quieter places like the old sharescene did well as well.


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Mick - in that case you should head straight to Menindee - apparently they've got so many fish in the lakes around there you can just reach down and scoop them out of the water. :rolleyes:


Anyway, have fun and travel safely.


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it appears IMs are currently not abled (= disabled) so I'll put this up for general viewing.


SS is schizoid, and consists of a rump base of users, ever dwindling in number, posting on general threads, and a cohort of CUV posters and readers. The decline of the former is self-evident, while the popularity of the latter may not be fully appreciated. A CUV post on 15 July that required clicking on to read the attachment has now gained nearly 1000 views (some may be duplicate but the total number is higher than active contributors would imply).


And of course, there is a third form of views, that of robots.


Now SS like most free-access forums rely on advertisers to pay for the upkeep, for moderators and registration etc. I suspect as a business model, it is rather mid-2000's rather than state of the art V2.0


I came across an article that talks about the increased trading by retail gamblers/speculators/traders/investors during Covid lockdown, and it mentions the newest participants are found in online communities, which are typically

..... a bunch of new players day-trading and laughing at the world of fund managers and experts. Sure, they are inexperienced, but they work on the theory that stocks only go up, and if it's a terrible stock that just fell 50%, then that's even better. It has so much potential. It sounds crazy to anyone taught to value a company based on the net present value of its expected future cash flows, but in this world, none of that matters. The new traders drove up the price of Hertz after it declared bankruptcy with massive debts and no revenue, and the share price rose so rapidly that Hertz planned a new capital raising.


Where are these communities hanging out?


TikTok is a massive global success story with a billion members who post short dance moves, lip sync routines, cooking sessions or whatever. It's also dominated by young people and millennials, and Robinhood advertises heavily to this market. The chat function on TikTok includes stories of quick daily market gains with videos on 'How to Trade' and 'Financial Advice', some of which are agonisingly naive.


Reddit is a large collection of online public forums where people share information and comment on posts by other people. It has become a global feedback site on almost any subject and one Robinhood section has 300,000 members. A popular Australian site is ASX_bets with 8,300 members. Reddit claims to be the number one resource for traders under 30, and they can legitimately collude.


And what of Robinhood? This is now a serious business. It has increased its user base by millions each month since March and embarked on a new share issue valuing the company at US$8 billion. It is privately held, and the app is not available in Australia. Robinhood makes money by selling data to high-frequency traders, which may translate into other activity by large players.


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