This is a guest post from one of Twitter’s most popular finance parody accounts: @ParikPatelCFA (you can read more of his work at Bullish Studios)
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Hey everyone, I’m Dr. Parik Patel, BA, CFA, ACCA, Esq.
For those of you who don’t know me, I’m a Chartered Fin-meme Analyst (CFA) and Twitter’s most qualified fintwit account.
Anyways, I’ve been told that I have a particular insight into the world of finance, memes and everything in between.
So the team at The Hustle asked me to share my five favorite tweets for the week and provide some expert analysis on the topic.
So, without further ado, let’s get started:
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For a while there, it seemed like Wall Street Bets had lost some steam. Nope. AMC — the theatre chain and “other” meme stock — has been on an insane tear of late, up about 6x over the past month.
Let me give you the fundamentals of why this is happening. Lol. Just kidding. It’s likely a replay of GME, with Redditors taking the opposite side of a stock that is heavily shorted by hedge funds.
For its part, AMC is turning its high stock price into cold hard cash by selling shares. Its latest offering of 11.5m shares led to a 10%+ decline in the stock. No wonder: AMC says it will use the money for “general corporate purposes”…sounds like a bottle of Grey Goose to me.
My favorite Twitter pastime is watching a single meme get remixed into infinite (or stolen by @elonmusk). Either way, watching a viral format pop and trying to ride the wave is definitely a healthy way to get dopamine.
Here is a recent format that made me chuckle:
The Original
The Remix
Speaking of viral memes, here’s a spin on the classic “before and after” format. Kumail Nanjiani — the legendary Pakistani-American actor who played Dinesh on “Silicon Valley” — is getting absolutely JACKED for his role in a new Marvel movie.
Well, a new pic of him taking HGH stepping out of the gym after a deadlift session is making its rounds … and the memes are glorious.
In psychology, there’s a famous concept called “variable rewards”. To incentivize us to keep searching for things, the brain gives us dopamine.
Think of a slot machine: if you knew you would win everytime, it wouldn’t be any fun. Instead, the randomness of the reward is what brings us back…it’s because every time we pull the lever, we receive dopamine in anticipation.
This is all a long way of saying, the stock market today is a f*cking casino and we’re all addicted and this tweet about an investor’s priorities in life is spot on:
If it feels like everything is getting more expensive…it’s because a ton of companies are passing higher costs of their inputs on to customers (translation: inflation is a MFer).
Some companies — like General Mills and P&G — are straight up admitting they are raising prices, while many are hoping we “don’t notice”, per a CNBC headline.
Trust me, we notice.