The Moon Emoji Is Securities Fraud – Bloomberg

What? The idea here is that the moon emoji represents not just optimism about the stock, not “mere puffery,” but that it represents “an expert insider’s direction to buy or hold.” That is a lot of weight to put on that little emoji. I wonder if some portfolio manager at a big hedge fund loaded up on Bed Bath stock after this tweet, and then the stock tanked and she got called into her boss’s office to explain herself, and she was like “no I had an expert insider direction to buy this stock” and the boss was like “you did?” and she was like “well there’s this moon emoji tweet.” A moon emoji is not really “an expert insider’s direction to buy or hold.” It is just sometimes, “in the meme stock ‘subculture,’” perceived that way.

Source: The Moon Emoji Is Securities Fraud – Bloomberg