A Japanese day trader invented meme stocks, not WallStreetBets
In 2018, Toru Yamada used Twitter to talk up a small company in Osaka; he has just been arrested for market manipulation
14 March 2021 - 07:30
Tokyo — A retail investor buys shares in a small company, touts his position on social media and inspires a horde of followers to do the same. The stock price goes to the moon — before crashing back to earth.
It’s an all-too-familiar tale to anyone watching the market in 2021, but this wasn’t GameStop. It wasn’t even in America. And it happened in 2018...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.