I hadn’t looked at the stock market in 20 years.” “I started working on Wall Street in 1998 and stopped just before 9/11. “None of this would be happening if it weren’t for coronavirus,” Nader told Al Jazeera. “I also raised 25K on my IG Story in one day, and I put it all in the cure for COVID.” “I have made a lot of people money in the market,” said Nader, before explaining his altruistic intentions. With little else to do, his universe is the stock market and the thousands of largely middle-class followers who he advises under the name Sorrybud. Nader sleeps just four hours each night, watches financial news on CNBC around the clock and chain-smokes packs of cigarettes. The other, CytoDyn, is a biotechnology company hoping to market a self-injected monoclonal antibody treatment currently in phase-three clinical trials.īesides trying to help end the coronavirus pandemic, the common factor that unites these two firms - in Nader’s eyes and for the social media-driven traders attracted to stocks like GameStop - is that hedge funds have short sold both – a trading strategy in which investors borrow shares and sell them with the aim of buying them back later at a lower price and pocketing the difference. One firm, XpresSpa Group, converted its airport wellness facilities into COVID-19 testing centres. The coronavirus was off his radar – similar to most ordinary Americans – and social media was more of a way to see and be seen than an investor club for the masses.įast forward to the start of 2021, and Nader is living in his parents’ basement, broadcasting stock tips to throngs of Instagram followers, and has invested his life savings in two companies whose core businesses might have seemed unintelligible just a year ago. At the beginning of 2020, Reza Nader was trying to make his way as a handsome mid-career actor in New York City.
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