“Outsider Trading”: GameStop Stock and the Social Media Effect

Available for Interviews: Harry Abrahamsen

Harry J. Abrahamsen is Founder & CEO Abrahamsen Financial Group. His company offers customized wealth management solutions—creating plans and portfolios that protect, preserve, and grow client’s wealth. He was selected as one of the ten most dependable Wealth Managers in the Mid-Atlantic as published in Forbes magazine.

What Harry Abramhamsen can say in an interview on
“Outsider Trading” / Trolling Wall Street:
GamesStop and the Social Media Effect:

How did GameStop stock get driven up,
and is this a sign of things to come?
  • People have heard of insider trading, now we are experiencing a new trend by social media platforms. The new coined phrase is “Outsider Trading.” This type of influence is now in full force using social media platforms which are creating investor hype and trolling Wall Street. There are companies on their way out; GameStop, AMC, Nokia and Bed Bath and Beyond. Changes in our times have caused many businesses to go out of business because of lost revenue.

  • Many hedge funds and institutions have shortened their position in these companies because their earning and financials are not initiative of a long-term investment. Normally, this is having a pulse on a companies’ financials and making an educated bet on the company fizzling out. The challenge is this: When is the white flag waved?
  • These new “hype-traders” understand the power of Reddit and Iris. Reddit has a forum called Wall Street Bets, which has been temporarily locked, creating a precarious situation as to why is this so? This should be illegal in my opinion.
  • These “hype-traders” realize that when Elon Musk tweets something like “AMC is next,” they have a unique opportunity outside trade and can invest in positions based purely on emotion and hype, not the numbers.
  • I am sure that Wall Street is not happy with the price of a stock skyrocketing, due to outsider trading or “hype-trading” in such an organized manner, forcing Wall Street to reevaluate their short-term positions.
  • Timing markets is a tricky thing to do successfully, and forums like Wall Street Bets and the application called Iris make outsider trading a new everyday occurrence.


Interview: Harry Abrahamsen

Harry J. Abrahamsen is Founder & CEO Abrahamsen Financial Group. He has been quoted in numerous national publications, such as Forbes, On Wall Street, Financial Planning, Bottom Line Personal, Smart Money and cited in the Encyclopedia Britannica. An independent research firm has selected Harry James Abrahamsen as “The 10 Most Dependable Wealth Managers in the Mid-Atlantic” published in the Forbes December 2007 issue Investment Guide. Harry Abrahamsen has five children and resides in New Jersey.

Jo Allison
Managing Editor
Director of Public Relations
Success In Media, Inc.

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