Fintech Eightco Shares Skyrocket on Move to Amass Cryptocurrency Worldcoin

Investing in these sorts of names is strongly negative expected value, and we're talking something that becomes strongly apparent within hours. I was trading these sorts of names earlier in the year for a couple of months (good broker, expensive scanners, custom written execution scripts, etc, about as good as it gets for non- proprietary trading firm participants), and it's no joke.

First of all you're getting up at 4 or 5 am every day. The space is also swarming with scams every day. Chinese IPOs, gamed PR releases which insiders dump into, etc. Then for the few that actually are truly "in play", it's just a brutal battlefield. They are illiquid and spreads are huge. You have to buy tens of thousands of shares and fees are horrible even with well negotiated commissions. Big fish with ten thousand hours of screen time dominate the tape. Hidden orders everywhere.

These names will drop 50% faster than you can blink, and if you have stop losses they will get broken and reversed just as fast, so risk management is impossibly hard to optimize.

I'd like to think I'm a fairly good trader, but this was like moving from "slow" race car driving to those cracked out Dance Dance Revolution videos you see.

On the other hand, the sheer amount of hilarity and absurdity every morning is a sight to behold. Every day there are 10 names just as insane as this one. Most narratives are played out before market open though. This really is a realm of 4am to 8am traders.

Oh yeah. Google finance is saying +3008.97% gain on the day.