JAIME ROGOZINSKI FOUNDED THE WALLSTREETBETS FORUM MORE THAN EIGHT YEARS AGO, WITHOUT KNOWING WHAT WOULD HAPPEN YEARS LATER WITH GAMESTOP AND OTHER COMPANIES
If you’ve been watching the news, you know that a group of independent investors, grouped together in one of the many Reddit forums, caused shares in GameStop, AMC, and other companies to skyrocket.
All due to a series of short-term sales and long-term purchases. That caused the foundations of Wall Street to shake completely. But what they may not be aware of is that someone from Mexico had a lot to do with it.
WALLSTREETBETS WAS FOUNDED BY JAIME ROGOZINSKI
Although not directly, it played a crucial role. The forum in question is WallStreetBets, which was created in 2012, and its founder was the Mexican Jaime Rogozinski, alias Jartek.
He wanted to create a space where everyone contributed ideas to invest, and bring together those who were not initially attracted to finance. This is how the information began to flow, and the forum members realized how to take advantage of the hazardous stock market.
Confirmed movie, series and even books of the GameStop and Wall Street case
Not even Rogozinski imagined what would happen years later, as he left this community in April 2020. The reason for leaving WallStreetBets was that he wanted to take advantage of what he learned, and he wrote a book.
This one is called How Boomers Made the World’s Biggest Casino for Millennials. It seems that this idea did not sit well with the other members of the forum, and they expelled him. It was thus that he had nothing to do with what happened.
GAMESTOP INCREASED ITS SHARES AND AMC SAVED HIMSELF
When he witnessed the panic on Wall Street, Jartek commented, “It’s a bit like watching one of those horror movies where you see the bad guy slowly walking up the stairs.”
To the above, he added “you see this train accident happening in real time.” He is currently 39 years old, lives in Mexico City, married with two children. The most notorious case of the group’s influence was what happened to GameStop, whose actions varied wildly.
It increased 18% on Monday, 115% on Tuesday and up to 135% on Wednesday, to top it off with 50% on Friday. But not only this company saw increases.
Also the AMC cinema chain, which had a huge debt and took the opportunity to pay it off on time. Although Jaime Rogozinski was not among those responsible for what happened a few days ago, but he would have founded the forum, it would never have happened. He wouldn’t hurt to follow his next steps.
In a recent article, Jartek commented that what the group gathered at WallStreetBets did was what another group, Occupy Wall Street, could never do. Only he did it from a completely different angle, and much more devastating.