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Emoji; emoticon; Unicode Standard; securities law; corporate law; Rule 10b-5; Securities Exchange Act; Securities and Exchange Commission; SEC; Reddit; wallstreetbets; retail investors; Ryan Cohen; Bed Bath and Beyond; securities fraud; meme; meme stock; gamestop; In re Bed Bath & Beyond Corp.; pump and dump scheme; twitter; Valence Aware Dictionary and Sentiment Reasoner; VADER
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Full Moon Or Full Fraud? A Proposed Method For Interpreting Emojis Under Rule 10b-5, Sophie Abrams
Full Moon Or Full Fraud? A Proposed Method For Interpreting Emojis Under Rule 10b-5, Sophie Abrams
Brooklyn Law Review
In the wake of the COVID-19 pandemic, many Americans who were stuck at home turned to social media forums in search of community and investing advice. Fifteen million (and counting) of them found community in r/wallstreetbets, a group on Reddit that banded together to drive up the prices of “meme stocks.” Bed Bath and Beyond was one stock that piqued retail investors’ interest after seeing billionaire investor Ryan Cohen take a 10 percent stake and activist role in the company. However, Cohen ended up being a large disappointment to his retail investor fans, as he subsequently sold off his stake …