Meme Stock Traders Pump Fake Company Enough to Get It Trending

The point of this joke, if you want to call it that, seems to have been to see how easily people and bots can be duped.

Apr 12 2022, 2:41pm

The increasingly bored-seeming WallStreetBets crowd has decided that instead of pumping real companies, it’s going to start focusing its energy on a fake one. In what is apparently a practical joke meant to trick media companies like this one into covering a fake story—and I suppose we are, so the joke is on us—people have plastered Reddit and Twitter with proclamations that a fake company called #LMNOP would soon be going to the moon.

An error occurred while retrieving the Tweet. It might have been deleted.
An error occurred while retrieving the Tweet. It might have been deleted.
An error occurred while retrieving the Tweet. It might have been deleted.
An error occurred while retrieving the Tweet. It might have been deleted.
An error occurred while retrieving the Tweet. It might have been deleted.
An error occurred while retrieving the Tweet. It might have been deleted.

The point of this joke, if you want to call it that, seems to have been to see how easily people and bots can be duped. Some of the involved people appeared to suggest that they had successfully triggered some Twitter bots into pumping #LMNOP without irony. “Twitter and Reddit bots have been tricked to pump $LMNOP, a company that does not exist,” the trading “education” platform Market Rebellion tweeted. We couldn’t find evidence of that—and that might be part of the joke—but enough people did pile into the “gage” to get it trending on Twitter, and isn’t that the point of everything? 

An error occurred while retrieving the Tweet. It might have been deleted.

Personally, reading the tweets, I couldn’t help but feel that the joke could have been turned around. The work involved in pumping a fake company isn’t too different from promoting GameStop, it ends up. Maybe that’s the point. 

Tagged:

Twitter, Reddit, wallstreetbets

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