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Alternate Title

Rational Investing or Speculative Fever?: SPACs, Robinhood, and Digital Assets—Securities Markets or Casinos?

Keywords

Securities, Disclosure, Speculative Investments, Crypto Assets, Meme Stocks, Gamification

Abstract

This article focuses a recurring theme – speculation in the financial markets. The 2010-2020 decade set the stage for a new round of speculative activity starting in 2021. In the article that follows I reflect on a new wave of speculation and three current examples of speculative activity. The article concludes that regulators should be cautious about over-regulation of SPACs and gamified trading. The article also supports the regulation of digital assets (crypto currencies and NFTs) as securities.

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