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<keyword id="1589476" type="General" weightage="20" keywordseo="stocktwits" source="Orion">Stocktwits</keyword> is a social networking platform where investors can connect with others in the community to discuss all markets, whether that’s stocks, futures, crypto or foreign exchange. And, the US-based company is now entering India with fresh funds in the bank to the tune of $30 million. <div type="twitter" handle="rkhanna" handlename="Rishi Khanna" image="http://pbs.twimg.com/profile_images/463533111427346432/lgZabYp0_normal.jpeg" favoritecount="214" retweetcount="22" status="Excited to share our $30M series B from @AlamedaResearch and @timesbridge and to partner with @ramnikarora… https://t.co/wY9Y2Ds7A1" createdat="1639674799000" id="1471528881358360584"></div> The Series B round of funding led by Alameda Research Ventures — the same powerhouse that’s behind the FTX crypto exchange founded by Sam Bankman-Fried and <a href="https://www.businessinsider.in/cryptocurrency/news/sam-bankman-frieds-ftx-crypto-exchange-handed-25-billion-valuation-in-latest-funding-round/articleshow/87188061.cms">valued at $25 billion</a> — includes a partnership with <keyword id="4519251" type="General" weightage="20" keywordseo="times-bridge" source="Orion">Times Bridge</keyword> to bring its offerings to consumers in India. Times Bridge is the global investments and venture arm of The Times Group, India’s oldest and largest media and digital company, with more than 557 million active monthly users. Times Bridge has helped other companies like Airbnb, Houzz, Uber, <a href="https://www.businessinsider.in/business/news/times-bridge-announces-partnership-with-stack-overflow-to-scale-and-expand-so-enterprise-saas-offerings-in-india/articleshow/79506841.cms">Stack Overflow</a>, <a href="https://www.businessinsider.in/smule-announces-strategic-investment-from-times-bridge-in-india/articleshow/66261010.cms">Smule</a>, <a href="https://www.businessinsider.in/business/corporates/news/times-bridge-invests-in-global-meditation-company-headspace/articleshow/74111300.cms">Headspace</a> and Coursera expand their footprint across the country. <div type="ExtQuote" text="Times Bridge’s mission is to advance India's entry, scale and leadership for the world’s best ideas in India. Stocktwits is one such idea that has, for years, offered groundbreaking social solutions, and access, for retail investors worldwide. And building on the growing dynamism of the investor landscape in India, we at Times Bridge - and across The Times Group - are looking forward to harnessing the power of our assets and know-how to support the localisation, growth and impact of the Stocktwits platform across the length and breadth of India." auname="Rishi Jaitly, Founding CEO of Times Bridge"></div> <cmsannotation type="cmsannotation" annotationid="Stocktwits is about more than just stocks" comment="subhead" text="Stocktwits is about more than just stocks">Stocktwits is about more than just stocks</cmsannotation> Founded in 2008 as the world’s first social platform for investors, Stocktwits set out to transform the retail investing space by becoming a global hub for conversations among investors — from beginners to veterans. The concept of ‘cashtags’ — a digital tool for investors who want to participate and access information on companies, not unlike the hashtag — was invented on Stocktwits. The conversations on Stocktwits aren't just about stocks either. They span from futures, foreign exchange to even cryptocurrency. Instead of the ‘#’ symbol, users online can use the ‘$’ to look for specific cryptocurrencies, like $BTC for Bitcoin or $ETH for Etherum, or specific companies, like $GOOG for Google and $PEP for PepsiCo. <cmsannotation type="cmsannotation" annotationid="Capitalising on the growth of investors in India" comment="subhead" text="Capitalising on the growth of investors in India">Capitalising on the growth of investors in India</cmsannotation> The launch of Stocktwits in India corresponds with growth in the investing landscape across the country. During the year of the pandemic, FY21, the number of retail investors in the country increased by <a href="https://sbi.co.in/documents/13958/10990811/220621-Ecowrap_20210622.pdf/98268407-3a8a-bacf-085b-3daef4984292?t=1624355750351#:~:text=INCREASING%20RETAIL%20PARTICIPATION%20IN%20THE%20MARKET&amp;text=retail%20participation%20in%20the%20Indian,and%2019.7%20lakh%20in%20NSDL.">14.2 million</a>, according to data from the National Securities Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL). A lot of the new participants are first-time investors under the age of 25 years, who are from Tier II and Tier III cities. Similarly, ever since the Supreme Court <a href="https://www.businessinsider.in/cryptocurrency/news/crypto-faqs-answered-everything-you-need-to-know-about-crypto-regulations-trading-taxes-and-cbdc-in-india/articleshow/88139203.cms">overturned</a> the Reserve Bank of India’s (RBI) blanket ban on cryptocurrencies, local crypto exchanges have seen a flood of new users. India’s leading crypto exchange, WazirX, claims to have 10 million users as of December and India’s first crypto unicorn — a startup with a valuation of more than $1 billion — CoinDCX cites 3.5 million users as of August. According to Stocktwits, the company’s social-first philosophy is perfectly placed to cater to this new generation of Indian consumers. Not only is there a surge in retail-investors but people are also turning to one another — and social media — for making investing approachable and successful. WazirX surveyed 8.5 million of its users and found out that over half of them had entered cryptocurrency trading on advice from friends and family. Currently, Stocktwits has 6 million users globally, with over a million monthly active users. In 2021, the platform saw 50% year-on-year growth. By entering India, the company is hoping to continue that momentum as more users come onboard. <div type="ExtQuote" text="India is an incredibly dynamic investor market and we are thrilled to be partnering with Times Bridge to advance our mission and expand our reach in the subcontinent. We are looking forward to making a significant mark for ourselves in the Indian market where investors spanning many generations are ready for new and innovative platforms to learn, connect, educate and profit." auname="Rishi Khanna, CEO of Stocktwits"></div> As part of this partnership, Times Bridge will catalyze strategic partnerships, platform localisation, and content for Stocktwits to drive adoption and impact across India. Disclaimer: Business Insider is a part of Times Bridge.

Stocktwits is entering India with fresh funding of $30 million and a partnership with Times Bridge

Politicians delivering speeches. Soldiers going to the frontlines to die. Families mourning. Markets crashing. Cities getting bombed and civilians getting killed, as “netizens” make world war-III memes. The obvious pictures that come to the fore, as history repeats. <div type="image" title="Russia-Ukraine conflict" msid="89954893" hostid="261"></div> When scrolling through social media, sometimes, it may seem like many people are numb to the pain that a <keyword id="6363794" type="General" weightage="20" keywordseo="war" source="Orion">war</keyword> can cause. So, we decided to put the spotlight on some of the consequences that may hit the right spot of the warmongers sitting afar. For others, it may give a sense how to prepare for the day when bombs rain from the sky. First up, no internet and patchy phone lines. Just letting your loved ones know that you are alive will be a task. Maybe, train a pigeon to carry notes. Then, no home deliveries. Slash that! Just <a href="https://www.businessinsider.in/international/news/ukraine-war-threatens-food-security-worldwide/articleshow/89918373.cms">not enough food</a>. Stores get shut, supplies don’t arrive and prices shoot up for everything from crude oil and fuel to edible oil and, even, the humble bread. In the ongoing war, this has been true, not just for the country that was invaded, for a large part of the world ⁠— even those that are not part of the war right now ⁠— because <keyword id="6355101" type="General" weightage="20" keywordseo="ukraine" source="Orion">Ukraine</keyword> is called the ‘breadbasket of Europe’. As Kyiv went into curfew from <a href="https://www.businessinsider.in/international/news/citizens-in-kyiv-emerge-from-shelters-to-queue-at-grocery-stores-after-curfew-ends/slidelist/89907313.cms#slideid=89907333">8 p.m. until 7 a.m,</a> there were long queues in front of grocery stores and ATMs. Expect panic and prejudice all around. And no money. Students from India who were in Ukraine at this inopportune moment learnt it the hard way. Even those who had money in the accounts ⁠— or a family member had transferred it ⁠— couldn’t access it. As they hitched a ride and/or walked miles to get to the closest border, aside from hunger and anxiety, they were attacked by angry locals. India did not condemn <keyword id="6358826" type="General" weightage="20" keywordseo="russia" source="Orion">Russia</keyword> for the attack ⁠— and the Indian government had its reasons ⁠for it — and many students, as they ran for their lives, faced the <a href="https://www.businessinsider.in/international/news/indian-student-killed-in-shelling-in-ukraine-as-the-war-with-russia-reached-big-cities-streets-/articleshow/89923130.cms">wrath of the civilians</a>. <div type="twitter" handle="MFA_Ukraine" handlename="MFA of Ukraine 🇺🇦" image="http://pbs.twimg.com/profile_images/1489725002786217985/3t7lVWBM_normal.jpg" favoritecount="1630" retweetcount="706" status="#RussiaInvadedUkraine #StopRussianAggressionThis is how Ukraine looks like now https://t.co/mt7HyjLGcg" createdat="1645964272000" id="1497908841320566787"></div> If that’s the story of the place that’s being attacked, things are not much better even for the invader. <a href="https://www.businessinsider.in/sports/news/fifa-and-uefa-ban-russia-and-its-soccer-teams-from-all-competitions-including-the-world-cup/articleshow/89907309.cms">FIFA and UEFA banned all Russian clubs and national teams</a> from competing on the international stage. But that’s the least of Russian President <keyword id="43440" type="General" weightage="20" keywordseo="vladimir-putin" source="Orion">Vladimir Putin</keyword>’s problems. Russia needs money to fund the war, but it has been cut off from the global financial markets. Russia has doubled its key interest rate to 20% from 9.5%, but even if someone would like to send money back to the banks in Moscow, they can’t, because the international banking system <a href="https://www.businessinsider.in/finance/banks/news/what-is-swift-how-does-it-work-why-is-it-important-and-how-nations-are-using-it-to-punish-russia/articleshow/89886091.cms">won’t allow the money to pass</a>. The value of the Russian currency fell over 40% making stuff more expensive even for Russians. As the iconic science fiction author HG Wells wrote in the famous book, ‘The War of the Worlds’: “If we don't end war, war will end us.” Due to the global sanctions, Russia would not have found buyers for things that it can sell, like crude oil and wheat. But <keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword> has decided to pick them up for a bargain and how cheap it’s gonna be will depend on how desperate the sellers in Russia are. That’s not the only one. These are all the ways China benefits from Russia’s invasion of Ukraine. Take a look. <div type="image" title="These are all the ways China benefits from Russia’s invasion of Ukraine" msid="89954767" hostid="261"></div> More on what the war-torn markets could look like a few weeks from now. Aashish Somaiyaa of White Oak Capital Management says that private banks and financial stocks in India have severely underperformed in recent months, and it has nothing to do with their own fundamentals. So they might be the first to bounce back if and when the crisis subsides. You can listen to the entire Twitter spaces session <a href="https://twitter.com/StocktwitsIndia/status/1499048978083508224">hosted by Stocktwits and Business Insider here</a>.

SIMPLY PUT: What we can learn from a war

<ul class="summary-list"><li><keyword id="11963825" type="UNKNOWN" weightage="60" keywordseo="stocktwits" source="Orion">Stocktwits</keyword> is launching a live trading feature for users amid the boom in retail investing. </li><li>First on its list of assets offered are cryptocurrencies, in partnership with Sam Bankman Fried's <keyword id="11930688" type="UNKNOWN" weightage="60" keywordseo="ftx" source="Orion">FTX</keyword>.</li><li>The new capability will allow users to make trades while staying on the platform.</li></ul>Social media platform Stocktwits is launching a live trading feature amid the boom in retail investing. And first on its list of assets to be offered are cryptocurrencies, in partnership with Sam Bankman Fried's FTX.The new capability will allow users to make trades while staying on the platform. Stocktwits currently has over 6 million registered users and reaches over 5 million monthly."The community and data have served as a strong on-ramp into the platform, but the addition of execution on the platform is a key product expansion that will help us to better serve our users," CEO Rishi Khanna said in a statement Thursday.Before this, the New York-based company mostly offered data tools and social features that are designed to encourage discussions between investors and traders. But Stocktwits recently acknowledged that <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> has been evolving to become a "sizable" part of the discussions on its site.<div type="image" title="Rishi Khanna, CEO of Stocktwits" height="1512" width="3024" msid="89331575" hostid="261"></div>Stocktwits was founded in 2008 and credits itself for popularizing "<a href="https://stocktwits.com/topics/cashtag">cashtags</a>" — the combination of a dollar sign and a ticker symbol ($TSLA, $AMZN, $COIN) — that are often seen in social media conversations today. It entered mainstream prominence in 2021 as it joined other platforms such as Robinhood at the heart of the pandemic's retail trading mania. In December 2020, the company raised $30 million in a Series B funding round led by Alameda Research Ventures, also owned by Bankman-Fried, pushing its valuation to <a href="https://www.bloomberg.com/news/articles/2021-12-16/social-media-platform-stocktwits-nabs-210-million-valuation">$210 million</a>.

Social media platform StockTwits is partnering with FTX to launch crypto trading service

<ul><li>Sugar producing company stocks have rallied up to 25% in the last one month on excitement of double incentive by the government for producing ethanol.</li><li>The government is taking several steps to boost <keyword id="1992365" type="General" weightage="20" keywordseo="ethanol-production" source="Orion">ethanol production</keyword>, which can be used as an alternative to fuel in car engines and thereby reduce air pollution.</li><li>The government has already addressed auto makers to start manufacturing <keyword id="10975219" type="General" weightage="20" keywordseo="flex-fuel-vehicles" source="Orion">flex fuel vehicles</keyword>, automobiles which can run on ethanol.</li></ul>Most sugar manufacturing companies have witnessed the best year as their share price doubled or even tripled in 2021 led by improving outlook and government measures to support such companies. In the last one year, the government has come out with a slew of measures to encourage sugar mills to produce ethanol. Ethanol is an alcohol-based fuel produced by fermenting the sugarcane juice. Ethanol has been a game changer for the sugar industry In October, 2021, the government announced an incentive to encourage sugar companies to divert excess sugar cane stock in producing ethanol, which can be blended with petrol and used as fuel in vehicles. Besides, this is also a good solution to address the problem of excess sugar production in the country. Stock prices of many sugar companies doubled in 2021. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sugar producing companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in last one month </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bannari Amman Sugars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">25% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">82% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shree Renuka Sugars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">22% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">153% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Uttam Sugar Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">21% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">82% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Hindustan Sugar </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">139% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Balrampur Chini Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">109% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Avadh Sugar &amp; Energy </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">113% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dhampur Sugar Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">81% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dwarikesh Sugar Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">130% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Triveni Engineering and Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">212% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dalmia Bharat Sugar &amp; Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">167% </td></tr></tbody><tbody></tbody></table>Government’s measures to boost ethanol production In an effort to reduce import of petroleum products, the government has been encouraging farmers to produce ethanol that can be blended with petrol and used as a fuel in vehicles. Also, the centre has advised auto makers to manufacture flex fuel vehicles that are capable of running on both ethanol-based fuel and petrol. Maruti Suzuki, Toyota, Honda, BMW and Mercedes have been told to make vehicles that can run on ethanol based fuel, said Union Minister for Road Transport and Highways Nitin Gadkari in an Agro-Vision event in Nagpur this week while encouraging farmers to grow more sugarcane plants. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div>The move is in line with the government’s target to reduce the carbon emissions by one billion tonnes by 2030. Analysts say sugar industry has a long way to go Sugar industry in India is expected to grow by 6-7% in the years 2021-2022 due to growth in exports of sugar and ethanol, said Manoj Dalmia, founder and director, Proficient equities. “Exports taking place from India will rise as Brazil is facing weather changes impacting crops. India is to register exports of around 4-6 million tonnes for (sugar 2022). Government plans 20% ethanol blending by 2025 in petrol, currently it is 10%. This measure will reduce the debt burden on farmers as a result sugar stocks are to grow,” said Dalmia. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/six-reasons-why-indias-central-bank-believes-cryptocurrencies-threaten-financial-stability/articleshow/88588170.cms">Six reasons why India’s central bank believes cryptocurrencies threaten financial stability</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbl-banks-stock-slumped-nearly-10-even-as-rbi-approves-interim-head-for-the-bank/articleshow/88584214.cms">RBL Bank slides back to its lowest in a year despite a new chief and RBI's assurances</a>

Sugar companies witness a sweet rally on ethanol excitement that may continue in 2022 as well

<ul class="summary-list"><li>Shares of <keyword id="11963821" type="UNKNOWN" weightage="60" keywordseo="support-com" source="Orion">Support.com</keyword> extended their surge for a second day to gain 200% Friday morning.</li><li id="recirc">Retail investors on social media cheered on the technical support software company, with many saying that the stock could be on the receiving end of a massive <keyword id="11918411" type="UNKNOWN" weightage="60" keywordseo="short-squeeze" source="Orion">short squeeze</keyword>. </li><li>Trading volume exploded to 100 million shares, compared to the avearge 8.9 million.</li></ul>Shares of <a href="https://markets.businessinsider.com/stocks/sprt-stock">Support.com</a> extended their surge for a second day to as much as 150% shortly after the opening bell on Friday. Retail investors on social media cheered on the technical support software company, with many saying that the stock could be on the receiving end of a massive short squeeze. The stock was the top trending ticker on <keyword id="11963825" type="UNKNOWN" weightage="60" keywordseo="stocktwits" source="Orion">Stocktwits</keyword> and Yahoo Finance Friday morning. Over 100 million shares changed hands Friday, compared to average trading volume of about 8.9 million.One user on Stocktwits compared the stock's squeeze to GameStop and urged fellow investors to hold the stock, even as it was trading at $49.80, a roughly 152% jump from the Thursday close. "Short data.. not yet covered..they are creazy[sic] ..many small HF will play with us this squeeze," said another user. While one speculated: "$SPRT shorts needs to cover! We will se[sic] $ 300-500 today."Meanwhile, retail investors within the Reddit channel r/SPRT discussed Support.com's recent <a href="https://www.businesswire.com/news/home/20210322005353/en/Bitcoin-Miner-Greenidge-Generation-Holdings-Inc.-and-Support.com-Inc.-Nasdaq-SPRT-Announce-Merger-Agreement">merger</a> with bitcoin mining company Greenridge Generation Holdings, with <a href="https://www.reddit.com/r/SPRT/comments/paqznr/theory_on_why_the_short_position_is_not_covering/?utm_source=share&amp;utm_medium=web2x&amp;context=3ontext=3">one post</a> claiming that the stock could see the "mother of all short squeezes." "The major short HF is not covering because they have a hedge with Series A stock but the hedge only works post-merger. If we squeeze them to a stock price where they can no longer meet their margin requirement BEFORE the merger, the MOASS will take place," the post theorized. Support.com was trading around $41.71 before the opening bell Friday.

Support.com extends 2-day surge to 150% as social media traders rally around new short-squeeze target

<ul class="summary-list"><li><a href="https://markets.businessinsider.com/stocks/pmcb-stock">Pharmacyte Biotech Inc.</a> spiked 187% Wednesday as investors cheered on the CEO's vision for the company following its Nasdaq debut. </li><li>Users on <keyword id="1589476" type="PERSON" weightage="60" keywordseo="StockTwits">Stocktwits</keyword> commented that the stock will go "to the moon."</li><li>The biopharma company's CEO said its recent Nasdaq listing will help improve liquidity and elevate its public profile. </li></ul><a href="https://markets.businessinsider.com/stocks/pmcb-stock">Pharmacyte Biotech Inc.</a> spiked 187% to as high as $9.84 per share Wednesday as investors cheered on the CEO's vision for the biopharma company following its Nasdaq debut. The Laguna Hills, California-based firm debuted on the Nasdaq exchange last week and now will have the ability to improve liquidity, enhance shareholder value, and elevate its public profile, according to a <a href="https://pharmacyte.com/pharmacyte-biotech-releases-statement-on-nasdaq-uplisting-and-current-business-focus/">statement</a> from CEO Kenneth Waggoner. $PMCB was the top trending ticker on Stocktwits as retail traders rallied around the stock's intraday surge."<a href="https://stocktwits.com/symbol/PMCB">$PMCB</a> imagine selling now and seeing this at 25-30 tmwr ? hold through the day and see!" one user commented. "Send us to the moon," another said. Over 152 million shares changed hands Wednesday, compared average trading volume of 431,255. "By listing on Nasdaq, we can leverage the Nasdaq shareholder engagement and intelligence tools, visibility platform, issuer advocacy and support, and client network that will provide greater opportunities for us to succeed in today's competitive marketplace," Waggoner said.<keyword id="11887563" type="UNKNOWN" weightage="60" keywordseo="pharmacyte-biotech">Pharmacyte Biotech</keyword> says it's developing cellular therapies for cancer and diabetes based upon a proprietary cellulose-based live cell encapsulation technology known as "Cell-in-a-Box." In the fourth quarter of 2020, the company assembled a team of experts to work through the US FDA's clinical hold requests in order to achieve an open Investigational New Drug Application, Waggoner said."Our current focus is to comply with the FDA's requests as soon as possible. When we make significant progress towards that goal, we will advise our shareholders and the investment community," he added. Waggoner also said that the company's "necessary reverse stock split" last week enabled the company to attract institutional investors. PharmaCyte announced the closing of a $15 million public offering last week.<div type="image" title="chart stock" height="727" width="903" msid="85440660" hostid="261"></div>

A small biopharma stock has spiked 187% as retail traders cheer CEO's roadmap for drug development following Nasdaq listing

Ross Levinsohn is now on the board of Stocktwits, a social media platform for investors, traders, and entrepreneurs.
He <a href="http://www.businessinsider.com/yahoos-ross-levinsohn-is-now-in-charge-of-adweek-2013-1">was previously</a> the chief executive of Guggenheim Digital Media, the digital arm of private equity firm Guggenheim Partners. In 2012, he was the interim CEO at Yahoo. And prior to that role, he <a href="http://www.businessinsider.com/ross-levinsohn-out-at-yahoo-2012-7#ixzz39iZSSfOW">ran Yahoo's</a> sales, business development, and media divisions.
Stocktwits CEO, John Melloy, told BI:
"I couldn't be happier to have a great media and tech mind like Ross join the board. After we met, he immediately saw the potential with our niche social network."
Additionally, Robert Peck, a technology analyst at SunTrust, is also joining StockTwits. Melloy said that "With Ross and Bob, I have access to some of the best minds in this new media world we're entering."
Melloy also told BI that in September, StockTwits is planning a "total redesign" of their website and mobile sites. Additionally, they have "a slew of new features coming" including "a google-like search function that will allow you to find a stream on any topic, person, stock or combination of the two".

A Former Yahoo Interim CEO Is Giving StockTwits A Boost

<div class="KonaFilter image-container float_right"><div class="image on-image"><a href="http://www.cnbc.com/id/44356967">via CNBC</a></div></div>Here's an interesting move in the world of financial media...
CNBC Executive Producer John Melloy - a star who's been at CNBC for over 7 years - is leaving the financial network to be the CEO of <a href="http://www.stocktwits.com">Stocktwits</a>, according a source familiar with the matter.
Melloy has been in charge of CNBC's Halftime Report as well as the very successful show Fast Money.
<keyword id="1589476" type="UNKNOWN" weightage="60" keywordseo="StockTwits">Stocktwits</keyword> - which was founded by Howard Lindzon - was an early player in social finance. It consists of an avid community of traders constantly tweeting ideas and news, as well as a network of highly respected finance blogs. Lindzon, we're told, will be moving from the CEO role to Chairman.
When reached for comment, Melloy told BI: "I look forward to the opportunity at Stocktwits. It's already an incredible company. I'm joining it at a great time." 
As for his time at CNBC, he says: "CNBC was an amazing experience. This was my decision."

Star CNBC Producer John Melloy Leaving To Become CEO Of Social Finance Service Stocktwits

The day after Thanksgiving in 2020, on the American bacchanal of consumerism known as <a target="_blank" href="https://www.businessinsider.com/guides/black-friday">Black Friday</a>, a post appeared on WallStreetBets with a short video filmed in the parking lot of a nondescript strip mall.A middle-aged guy came out of a GameStop store carrying a big white box containing a <a target="_blank" href="https://www.businessinsider.com/gamestop-founder-gary-kusin-family-following-reddit-frenzy-closely-honor-2021-1">PlayStation 5</a>, the newly released video game console from Sony. As he walked across the parking lot, the person holding the camera ran at the customer and pushed him to the ground, knocking the box out of his arms.An accomplice of the cameraman, a young blond man in sweatpants and a red headband, swooped in from behind and, laughing, snatched up the PlayStation box and ran away at full speed, repeatedly spitting out the word PlayStation with deranged joy as he raced off.The cackling of the thief made it a particularly sordid scene to watch. But in the inimitable style of WallStreetBets, the video, which had first appeared on Twitter, was pulled into a post and described amorally as a trading signal, and a very bullish one, for the store that sold the PlayStation 5—<a target="_blank" href="https://www.businessinsider.com/why-gamestop-stock-reddit-wallstreetbets-2021-1">GameStop, or GME</a>, as the company was known in the stock market.The title and only words in the Reddit post put the thesis simply: "PS5 robbery outside of Gamestop, BULLISH long GME."<h2 id="215ad517-7ea7-41d6-8b2c-8cb9cdf7785b">'Get in asap, we're going to Pluto'</h2>GameStop was in some ways an <a target="_blank" href="https://markets.businessinsider.com/news/stocks/meme-stock-explosion-suspicious-option-trading-activity-gamestop-amc-gme-2024-5">odd stock for the subreddit</a>, which had tended to go for futuristic technology companies like Tesla and Virgin Galactic. GameStop was more like a remnant of the past, and it was getting eaten alive by tech companies such as Amazon.Since the era of the original Nintendos and Segas, <a target="_blank" href="https://www.businessinsider.com/gamestop-ceo-cfo-reveal-plan-stock-price-2019-9">GameStop had fallen on hard times</a>. The video-game industry was booming, but much of the growth was coming from digital downloads and iPhone games, which didn't require going to a store.The surviving GameStops were somewhat notorious for their stained carpets and musty smell. The video of the robbery captured the seedy feel of the outlets, which were often a few doors down from liquor stores and check-cashing depots.As digital game downloads became more popular, many people assumed GameStop would go the way of Blockbuster, which had filed for bankruptcy after its physical videotapes lost out to the digital offerings on Netflix.But on Black Friday, GameStop seemed to be getting an unlikely bump due to those new video-game consoles from Sony that had just been released and that were selling like hotcakes.Sony had decided to include a slot for a game disk in the new PlayStations, which suggested that GameStop's physical stores might not be dead yet.Everyone on <a target="_blank" href="https://markets.businessinsider.com/news/stocks/revenge-of-the-apes-3-reddit-wallstreetbets-stocks-that-could-pop-next-1033427684">WallStreetBets</a> seemed to be aware of all these dynamics, thanks to the video-game-loving tendencies of the guys who hung out on the subreddit. Now they aimed their memes and their Robinhood accounts squarely at GameStop."Get in asap, we're going to Pluto," <a target="_blank" href="https://www.reddit.com/r/wallstreetbets/comments/k0k0q6/gme_gang_gang_gang_gang/">one longtime member wrote</a> under the title "GME Gang Gang Gang Gang." The post showed a picture of a portfolio with $225,000 of call options on GameStop.Part of the reason that GameStop had not broken out on WallStreetBets before this weekend was the rule Jaime Rogozinski, the founder of the subreddit, had put in place the previous spring banning posts about penny stocks and companies worth less than a billion dollars. GameStop had thousands of stores, but it was struggling so much that the whole company had essentially been valued as a penny stock.On Black Friday, though, the company had broken through the one-billion- dollar threshold, and when the ban was removed, it was like a dam had broken.The company surged past Tesla that day to become the most talked about stock on the subreddit. As the stock went up, Jordan Zazzara, the most active moderator on the subreddit, stayed glued to his desk, trying to contain the flood of posts about the latest meme stock."I've been literally staring at the sub and spamming things since market opened," Zazzara wrote a few hours into the day. "We're sending a message with dozens if not hundreds of temporary bans for low quality submissions. I've been banning since 9 a.m.," he added.The posts coming in about GameStop reflected a remarkable degree of research and knowledge about the company. There were <a target="_blank" href="https://www.reddit.com/r/wallstreetbets/comments/k4csaa/the_real_greatest_short_burn_of_the_century_part/">lengthy</a> <a target="_blank" href="https://www.reddit.com/r/wallstreetbets/comments/k2tg4h/how_to_ride_momentummeme_stocks_like_pltrniocrsr/">write-ups</a> about the company's recent history, especially the news that a <a target="_blank" href="https://www.businessinsider.com/gamestop-billionaire-chewy-founder-ryan-cohen-ceo-2023-9">young billionaire named Ryan Cohen had bought a significant chunk of GameStop shares</a> with an apparent interest in taking control of the company.But there was also a lot of talk about how GameStop looked like many of the other big names that had broken out on WallStreetBets, given its unpopularity among hedge funds. Like Tesla and Palantir, GameStop was a popular stock to short among hedge funds, though GameStop took it to a whole new level.Back in February, when <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-rally-burned-another-hedge-fund-who-shorted-2020-2-1028904327">Tesla</a> had been one of the most heavily shorted stocks on Wall Street, hedge funds had borrowed around 20 percent of the company's shares to short them, a common way of measuring the degree of short interest or pessimism toward a company.With GameStop, the short interest was five times as high, around 100 percent, which meant that hedge funds had borrowed essentially every single share of the company to short it. The early posts about these figures suggested that there was something offensive about the way Wall Street could borrow every single share a company had issued in order to bet on its demise.The anger that began to pick up played right into the fury toward hedge funds that had emerged the previous month after Andrew Left of Citron Research had criticized and bet against the most popular stocks among retail investors.GameStop seemed to offer a perfect opportunity to get some revenge.If the crowd could push GameStop's stock up, they could make the hedge funds lose money on the big bets they had placed against GameStop. One popular post recalled the recent fight with Left and Citron Research to get the crowds riled up."How many times has a short screwed over your calls or positions because of a single Tweet ahem Citron/PLTR ahem or manipulated your stock to the point where you bought high and sold low?" one post asked."Well, here's a chance to redeem yourself."<h2 id="75556e0f-088c-4cb3-93f6-064491c20e3a">'We're just trying to be careful'</h2>Zazzara <a target="_blank" href="https://www.businessinsider.com/wallstreetbets-reddit-sub-stock-moderators-want-to-start-new-community-2021-3">did not like the direction this was going</a>. He had just cracked down on the efforts to take down Citron Research for fear that they would give Reddit an excuse to kill the subreddit. Now Zazzara went into action again, deleting posts that talked about pumping or squeezing GameStop."You know when you love your cat but it won't stop going on the fucking table and that's literally the one place you don't like it to be?" Zazzara asked. "That's how I feel about these GME posts that are using the 'P' and get in so we can cause an 'S' words that are no-nos."He once again tried to convey that this was not about censorship: "We're not removing them because we want to impinge on your freedoms. We're just trying to be careful."But in the days that followed, the stream of material about GameStop kept coming, and as Zazzara watched it all pour in, he could see that this was not just some pump-and-dump scheme orchestrated by a handful of people. There was a lot of very smart and detailed due diligence on GameStop, arising out of what looked to be a new kind of crowdsourced research effort unlike anything WallStreetBets had seen before.The most visible new character on the subreddit was a guy who went by the username Uberkikz11. He wrote detailed posts arguing that GameStop had a much more promising outlook than the views coming out of Wall Street would suggest. To support his argument, Uberkikz11 relied on information he pulled from GameStop's financial filings and other data sources. Uberkikz11 had put what he said was a "majority of his net worth in GME" and he was eager to use social media to get the word out about the company's potential."I'm here to provide as much boots on the ground $GME intelligence as one man can deliver. Clearly I'm not doing all this financial modeling and scraping for nothing. I enjoy helping others here."In real life, Uberkikz11 was a 31-year-old who lived in Tampa, Florida, and worked in middle management at the truck rental company Ryder. He said his odd username was from when he had been a tween soccer freak with the number 11 on his jersey.Unlike most people on Reddit, who embraced the anonymity of social media, Uberkikz11 often mentioned his real name, Rod Alzmann, and his rather fuddy-duddy tastes, like the 2014 Chevy Bolt he drove and the Vanguard retirement account where he kept his GameStop options."I'm an 81-year-old man in a 31-year-old body," Alzmann joked.But Alzmann emphasized that he was trying to do something very modern with his GameStop investment by harnessing the crowds on social media to pool their knowledge and resources so that they could compete against the hedge funds that always seemed to have such an edge over ordinary people.Alzmann's most impressive project was an effort to estimate GameStop online revenues by collecting receipts from all the GameStop customers he met online. Alzmann had noticed that GameStop, unlike most stores, numbered its receipts sequentially. This meant that if he had receipts from the beginning of the day and others from the end of the day, he could estimate how many transactions the company had done.During the Black Friday weekend, he had gone around asking everyone to send in their receipts as they bought their new PlayStations and Xboxes from GameStop."GME ORDER NUMBERS! SHARE YOUR ORDER NUMBERS HERE!" he had bayed on social media like some carnival hawker.Alzmann used the data he gleaned to put together estimates on the company's quarterly revenues, which he frequently updated and promptly shared with his online followers.The other person who came up in all the online conversations about GameStop was a character who went by the name <a target="_blank" href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-soars-roaring-kitty-schedules-youtube-livestream-gme-2024-6">Roaring Kitty</a>. He appeared to do most of his work on YouTube, where he ran a regular livestream show that brought people together to talk about the latest news and data on GameStop. He had been ramping up the YouTube channel over the fall and by December he was holding court a few nights a week for several hours each time.Roaring Kitty pulled up charts and documents as he spoke, but he also interacted frequently with the people who gathered in the live chat that ran alongside his video stream. Alzmann joined in the live chat and talked with Roaring Kitty and the others in attendance about their latest findings, constantly challenging them to find any detail that might make them reconsider their investment. They did not want to be bullish if being bullish was not supported by the evidence.As they did this work, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-roaring-kitty-keith-gill-livestream-return-gme-2024-6">Roaring Kitty constantly made fun of himself</a> and the others for their obsessive interest in this offbeat company."Who the HELL can talk about a single stock for 5 hours straight?!" he asked."I'll tell ya who . . . the Roaring Kitty crew."Before December, because of the ban on posts about companies worth less than a billion dollars, most of the conversation about GameStop had been happening on other social media networks.Roaring Kitty was one of the many online personalities who had been making a name on YouTube by talking about stocks and investing. There was even a new name going around for the financially focused influencers who were popping up in response to the post-COVID trading mania: finfluencers.Another hub of conversation about GameStop was StockTwits, a Twitter-like messaging platform focused on investing. StockTwits had been founded during the financial crisis and now had around three million active accounts, about twice as many members as WallStreetBets.StockTwits was often the butt of jokes on WallStreetBets because the unmoderated nature of the service made it overwhelming and attractive to scams and spam. But StockTwits offered some advantages over WallStreetBets, like allowing users to filter the conversation for particular stocks. This made it easy for fans of GameStop to find each other and chat.Alzmann and a handful of other GameStop-obsessed investors had come together on StockTwits over the course of 2020 and used it as a place to meet up and chat during the day. This group, whose members began referring to themselves as the GME Owls, had hatched plans on StockTwits to get GameStop in front of the much larger masses on WallStreetBets around Thanksgiving.These conversations about GameStop showed the way that a whole new media ecosystem dedicated to investing was growing up far beyond the bounds of WallStreetBets as the COVID lockdowns continued.But in the conversations on YouTube and StockTwits, there had been increasing recognition that WallStreetBets exerted a kind of gravitational pull that none of the other sites could touch.<div type="image" title="The Trolls of Wall Street book cover" height="2775" width="1838" msid="110883885" hostid="261" sizebytes="82302"></div>"If 1% of the active traders on WSB picked up 20 shares for shits and giggles, there's literally nothing left," one of the regulars on StockTwits wrote as the GME Owls began fanning out onto WallStreetBets after Black Friday.In the week after Thanksgiving, the GME Owls from StockTwits put up a survey on WallStreetBets so they could get a sense of how many people from this rowdy crowd were buying the stock.The 2,400 people who responded suggested that they had, as a group, bought 3.4 million shares of GameStop. That was enough to make WallStreetBets the seventh-largest holder of GameStop stock, ahead of some of the big Wall Street investment firms that had shown interest in the stock.Some of the guys in StockTwits were skeptical of the attention span and staying power of the Reddit crew. But during the week after Thanksgiving, GameStop took a dip, and it seemed only to strengthen the resolve of the growing hordes on WallStreetBets."It turns out that with a culture can come strong convictions," one of the leading GME Owls wrote on StockTwits. "They actually ditched their option gambling ways and most have made a bid for shares to help the greater cause."The most useful information that the GME Owls had uncovered in the fall of 2020 was about Ryan Cohen, the young billionaire who had purchased millions of GameStop shares earlier in the year. Cohen had not said much about his purchase publicly, but in regulatory filings he indicated that he was looking to buy enough shares so he could join GameStop's board and encourage the company to embrace the possibilities of e-commerce more fully.Cohen had made his fortune by founding and running Chewy, an online pet store that was one of the only e-commerce start-ups that had successfully taken on Amazon. If Cohen could work his e-commerce magic on GameStop, the company might not be doomed by the rise of downloadable video games.Alzmann and the other GME Owls obsessively tracked every new filing and bit of information from Cohen to see if he was moving ahead with his plans to remake GameStop. Alzmann went so far as to reach out to Cohen's lawyers to let Cohen know that the people gathering on WallStreetBets were behind him.On <a target="_blank" href="https://www.businessinsider.com/wallstreetbets-reddit-history-gme-gamestop-stock-dow-futures-yolo-2021-1">WallStreetBets</a>, Alzmann shared the growing evidence that Cohen was indeed planning to take a more active role at GameStop. This led to a surge of memes that portrayed Cohen as the hero of the ordinary guys in their battle against the villainous hedge funds.This crowdsourced research and cheerleading paid off mid-December when Cohen made his latest filing, a letter he had just sent to the GameStop board. The letter indicated that Cohen was getting much more aggressive in his effort to change the company and was not going to take no for an answer. When the filing was made public, the stock shot up and the subreddit celebrated the news as vindication of all their hard work.On CNBC, Jim Cramer had been watching and talking about the rise of GameStop warily as part of his long-standing fascination with the rise of retail investing.At first, GameStop reminded him of the February gamma squeezes when the crowds had manipulatively seized on silly stocks like Virgin Galactic.But when Cramer dug into the conversation happening around GameStop on WallStreetBets, he saw that something new and more sophisticated was happening."What I say to myself is 'Do not be a snob,'" he told his viewers. "If they're running GME, then do some work on it. Make sure that you know GME."He said Wall Street was likely to continue viewing the Reddit and Robinhood crowds with the disdain that had marked most of the professional commentary to date. But <a target="_blank" href="https://www.youtube.com/watch?v=2btHX8vAfNM">Cramer said he was taking a different tack.</a>"The bottom line? I think it's time to stop disrespecting the younger investors who've nailed 2020 every step of the way. Start taking them seriously, even at this incredible run. It's not too late to join them." From the book <a target="_blank" href="https://www.harpercollins.com/products/the-trolls-of-wall-street-nathaniel-popper?variant=41108938194978">THE TROLLS OF WALL STREET</a> by Nathaniel Popper. Copyright © 2024 by Nathaniel Popper. Reprinted by permission of Dey Street Books, an imprint of HarperCollins Publishers.Nathaniel Popper is the author of Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money.

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Stocktwits is entering India with fresh funding of $30 million and a partnership with Times Bridge

BI India Partner

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Social media platform StockTwits is partnering with FTX to launch crypto trading service

Isabelle Lee

Sugar companies witness a sweet rally on ethanol excitement that may continue in 2022 as well

Bhakti Makwana

Support.com extends 2-day surge to 150% as social media traders rally around new short-squeeze target

Emily Graffeo

A small biopharma stock has spiked 187% as retail traders cheer CEO's roadmap for drug development following Nasdaq listing

Emily Graffeo

A Former Yahoo Interim CEO Is Giving StockTwits A Boost

Elena Holodny

Star CNBC Producer John Melloy Leaving To Become CEO Of Social Finance Service Stocktwits

Joe Weisenthal

An inside look at the weekend the GameStop frenzy began on WallStreetBets

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