One thing you could do, as a hedge fund manager, is conduct rigorous fundamental analysis of public companies and buy the stocks that you think are fundamentally undervalued. Another thing you could do, as a hedge fund manager in the 2020s, is try to predict which stocks will capture the attention of retail investors online and become meme stocks.
A third thing you could do, though, is buy stocks and try to make them meme stocks…. […]
Anyway we have talked a little bit about Eric Jackson, who runs a firm called EMJ Capital and who has tweeted early and often about Opendoor Technologies Inc., which became a big meme stock last month in part because of his efforts. His latest schtick on X is apparently that he is …. standing outside of Drake’s house in Toronto “until he buys at least ONE share of $OPEN”? I’m sure that there is some reason for this, though I don’t know what it is and don’t especially want to find out. He’s holding up signs each day, saying things like “BUY $OPEN” and “KENDRICK SUCKS.” Apparently Drake isn’t even there? Eventually Citadel is going to hire someone to do this sort of thing.
Source: Meme-stock hedge fund management