Hedge fund job listing wants Reddit traders
Starting salary is $200,000 and the position requires being a member of r/WallStreetBets.
Get paid to trade stock and check out memes.
GameStop caught the attention of Wall Street last month when its stock price shot up thanks to members of the subreddit r/WallStreetBets. Now it appears a hedge fund wants to tap into that trading hive-mind with a job offer.
Cindicator Capital, a hedge fund based in New York City, is on the hunt for a Reddit-savvy trader who'll manage millions of dollars and comb through Reddit, Discord and Twitter to see what people are saying, according to a LinkedIn job posting spotted earlier by Gizmodo.
The posting lists prerequisites including three or more years of active trading experience, an account on r/WallStreetBets that's older than one year and has karma ( Reddit's point system), and a "refined taste for memes and a sense of humour." The job comes with a base salary of $200,000 with a performance-based bonus, health insurance and an option for a spot at a Burning Man camp.
The r/WallStreetBets posters were behind the big push to buy more GameStop stock in what's known as a short squeeze. The result was share prices jumping from just over $20 on Jan. 12 to $483 on Jan. 28. The stock has since fallen to $48.80 at the end of trading on Tuesday.
Cindicator Capital didn't immediately respond to a request for comment.