[ #GameStop Thread] This week, social media coordination created a spike in the @GameStop stock that rose over 1700% as retail investors coordinated over information on @reddit and other social media to pump the stock. 1/8
I covered this possibility in detail in my book The Hype Machine 👇. In Chapter 2 "The End of Reality" I discussed how social media memes could be used to inflate stock prices and cause bubbles. 3/8 http://www.sinanaral.io/books 
For example, I described the Hack Crash of 2013 in which a viral false news tweet by Syrian hackers who had infiltrated the AP News twitter handle wiped out $140B in equity value in a matter of minutes. 👇 4/8
But, more relevant to the #GameStop story, I discussed, in detail, how coordinate news propagated over social media can support 'pump and dump' schemes that inflate the price of stock artificially. 👇 5/8
I also described the large scale statistical evidence for the impact of social media on financial markets.👇 6/8
The next question is "what do we do?" *Stay tuned*... On the heals of "The Hype Machine" book, in which I tried to address solutions to our social media crisis in detail, we're preparing a big announcement at the @mitide to move this us further down the road toward solutions. 8/8
Note my coverage in the book of the way the Hype Machine is coupled to automated systems that analyze and amplify these types of stock movements. I predict an autopsy will reveal the same thing going on here with #GameStop and #amcstock 👇 10/
Robinhood explains its decision to block buying on #gamestop @ChrisCuomo pushes back. HT/ @tomeckles https://twitter.com/CNN/status/1355173784764952581?s=09
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