‘Fast Money’ trader Guy Adami goes to the streets of Times Square to test fake news versus real news. There are so many “fake” news sites out there, that some are calling it an epidemic. Many of these fraudulent articles spread virally during the 2016 Presidential election.
When roaming around Times Square, he asked whether it was true or false that Donald Trump and Kanye West we’re hanging out in Trump Tower, many were skeptical but it was actually true. When asked whether the Dow Jones industrial average was trading at 20,000, most people seemed to have no idea what that actually was except for one lone person. When asked whether Apple is making a special gold Trump edition iPhone, most people knew this was fake because Trump has been talking about boycotting Apple.
Do you think Pepsi will stop selling sewed up by 2020? And Guy’s final question was whether his good looks are real or fake? We will leave that for you to decide. However, the numbers show that the stock of both the real news companies as well as the fake news companies are both increasing.
Fake news companies use tactics to make the fabricated stories sound like they are real, preying upon the readers’ gullibility. While some fake news is simply meant to be a joke, many stories now are meant to be intentionally inflammatory. Finding legitimate news sites is a way that people can be sure that what they are reading is actually true.