How a Photo of an Icecream Made Some Social Media followers a Fortune.
I am not much of a fan of Facebook or Instagram. I use them for sure, but I find more value in the forums.
Twitter is ( if you can build a following ) better than Facebook or Instagram IMHO.
One of the forums I frequent is Reddit. (It costs $19.00 a mth).
An article I read today shows the power of Reddit, coupled with Twitter.
One group in Reddit is now so influencial they are driving up prices on some stocks at the big casino on Wall Street.
The group " Wallstreetbets " have just in the last week driven up the price of one stock from around $40.00 on Monday to $91.00 at the close on Wednesday.
It opened at $170 on Thursday morning !.
It closed at $107 on Thursday, so I am guessing in all that volatility there were lots of traders taking profits.
The tweet that sent "Wallstreetbets" into a frenzy was nothing more than a McDonalds icecream, sent by a brash young man who started and sold an online pet food and pet products company for about $3billion.
Note the word "ONLINE"
No doubt, playing the hedge funds and assorted other stock market heavies at their own game from a different medium is fraught with danger, as Elon Musk found out when he Tweeted. ‘am considering taking Tesla private at $420. Funding secured"
Those 9 words cost him $40million.
Still, it shows that social media particularly in the forums is a very powerful tool to have in your arsenal. Better probably than U-Tube, depending on your niche
If you haven't been working the forums in your niche now might be a good time to see what is happening in them and how you can become involved.