BUZZ, the ETF of Social-Media Darlings, Drops in Trading Debut

The VanEck Vectors Social Sentiment ETF started trading Thursday in a bid to play off the retail-investing boom and the buzz investors are creating on Reddit, Twitter and other social-media platforms around their favorite stocks.

“This represented to us a new era of investing,” said Ed Lopez, head of ETF product at asset manager Van Eck Securities Corp., manager of the ETF that goes by the ticker BUZZ. “People are sourcing information online and, more broadly, with the sharing of ideas.”in GameStop Corp. and AMC Entertainment Holdings Inc. will be sorely disappointed, though.

Jamie Wise, founder of Buzz Indexes who also runs a hedge fund strategy out of Toronto, said that is because GameStop, AMC and other stocks retail traders have been buzzing about failed to meet the indexing criteria on which the ETF is based. Companies that trade on major U.S. exchanges and have market values of at least $5 billion are the initial hurdles for entry, and one GameStop failed to meet as of the index’s last quarterly rebalance on Jan. 1, Mr. Wise said. GameStop’s market cap was $9.2 billion on Thursday and rose as high as $22.7 billion in late January.

What Boom bruh? I’m tired of these networks and news agency ignoring the fucking bear market right now!

never let a good crisis go to waste

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