Investing
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.
Photographer: Aaron McKenzie Fraser/BloombergThis article is for subscribers only.
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.