Wall Street Is Hiring Reddit Users To Help Them Find Meme Stocks
As the GameStop saga dies down, Wall Street hedge funds are no doubt scrambling to make sure that they don’t get caught with their pants down again. But one company appears to have decided that the folks behind the Reddit Rally may have been on to something after all.
In a classic Wall Street move, Cindicator Capital, a quantitative fund that describes itself as the first Wall Street trader ‘powered by Hybrid Intelligence’, has decided to use the Reddit traders’ tricks for its own personal gain, by hiring someone to identify potential meme stocks before they take off.
In a job ad for a ‘Sentiment Trader’ posted to LinkedIn, Cindicator says its looking for ‘an active member of r/wallstreetbets with an account age of >365 days and karma of over 1000’ who has ‘a refined taste for memes and a sense of humour’ to join the company.
The unorthodox call for applications reads like something written by Elon Musk as a joke, with the ideal applicant apparently needing to be ‘good at poker’, and to have either ‘NO higher education in economics or finance’ or be able to prove that they’re ‘free from any mainstream financial brainwash’.
And although the ad envisions the successful candidate ‘spending most of [their] time on Reddit, Discord chats, and Twitter’, it looks like the job also come with some pretty significant responsibilities, with Cindicator saying the new meme whisperer will be responsible for managing a ‘multi-million’ dollar fund.
According to Gizmodo, Cindicator Capital uses algorithms to create models for investment strategies based on a wide range of data and factors that might not appear obvious to human investors. Despite rubbing shoulders with the elite-of-the-elite, the New York-based firm clearly sees itself as pretty edgy, promising ‘parties in Seoul, Korea and St Petersburg, Russia’ and tickets to Burning Man as part of its employee benefits package.
With GME stock falling lower by the day, it’s an opportunity that might actually sound pretty attractive to amateurs who have caught the trading bug, or day traders looking for a way to earn back the thousands they lost when the Reddit Rally collapsed.
And if you’re willing to sell out your fellow WallStreetBets enthusiasts to work for the man, the company will also pay you a nice sum in return, offering a starting salary of $200,000 – which in the grand scheme of things is probably pennies in the world of stock traders.
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