The recent influx of retail investors into NYSE markets has offered a new hope for regular people looking to build their financial futures — but this community is beginning to discover the dark side of Wall Street.
Take the tragic case of Peter Bosco.
A 28 year old real estate agent from Peoria, IL, Bosco joined the ranks of the small-dollar investors in late 2019. His portfolio wavered initially, but then rapidly picked up steam when Bosco went “all-in” on the infamous GameStop (GME) short squeeze of 2021.
Bosco, who regularly tweets his investment positions along with hashtags such as “#moneymoves” and “#wolfofwallstreet”, was soon hailed as the common man’s hero for bravely holding his shares and call options against the maelstrom of anti-gamestop sentiment projected by Wall Street analysts.
It was around this time that a Vice reporter contacted Bosco to extend his praises, calling Bosco a “champion of the little-guy” and lauding Bosco’s propensity to “stick it to the man.” Bosco humbly ignored the compliments, opting instead to chastise the reporter for interrupting his weekly re-watch of his favorite film, “Get Rich or Die Trying.”
If it had ended here, Bosco would have been enshrined in posterity as a Middle-Class Messiah. But on January 29, 2021, an unthinkable tragedy occurred — Bosco sold.
With the closing of Bosco’s GME portfolio an era of beautiful rebellion grinded to a halt, with thousands of Bosco’s fans forced to confront the ugly truth, that even a heart of gold can one day rust.
After realizing $325,000 in profits, Bosco left behind the lifestyle of the nobly impoverished, emerging as just another corporate fatcat — the kind Bosco used to fight tirelessly against in his days as a small time investor.