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Investing:A Moment of Reckoning on Financial Literacy
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Market Crash Hands Defeat to Traders Who Warred With Wall Street

With stocks and crypto tumbling, inflation soaring and the Fed poised to tighten policy, what’s a trading revolutionary to do?

Chris Perrotta changed his license plates to “STONKS” after his account went up by 350% due to meme stock AMC.

Chris Perrotta changed his license plates to “STONKS” after his account went up by 350% due to meme stock AMC.

Photographer: Aaron McKenzie Fraser/Bloomberg

Exactly one year ago today, Chris Perrotta joined a revolution on Wall Street: He bought one of those crazy meme stocks — and went on to make a small fortune.

Today Perrotta, like countless other amateur traders who pushed stocks “to the moon” and challenged the pros during the early 2021 mania, is watching the old dreams of a new Wall-Street order collapse around him.