Reddit trading is leading to “massive market manipulation” and it’s getting out of hand, according to top-ranked investment advisor Ric Edelman, who is calling for a return to fundamentals such as cash flow, management and return on investment.

As “the democratization and the demonetization of Wall Street” progresses, buying stocks based on fundamental characteristics is taking a backseat, Edelman said Monday on CNBC’s “ETF Edge.”

Edelman was named the top independent registered investment advisor by Barron‘s three years in a row and founded Edelman Financial Engines. He said he’s “very concerned” about “pump-and-dump” schemes in the markets.

“This party’s going to come to an end,” Edelman said. “There do need to be fundamentals. There need to be a sound basis economically for the pricing to be what it is.”

Influencers such as Elon Musk and Mark Cuban tweet about investments that move markets and could lead retail investors to buy at the highs, he said.

“I think that we’re seeing massive market manipulation,” Edelman said. “A lot of folks don’t know what they’re doing and this is going to end very badly and a lot of folks are going to get really hurt.”

Jaime Rogozinski, who founded the legendary Reddit forum WallStreetBets in 2012, begs to differ. The recent trading frenzy isn’t market manipulation, Rogozinski said on Yahoo Finance Live.

WallStreetBets is credited with becoming “a force so powerful” that it sent GameStop shares into overdrive, nearly toppled a hedge fund and left professional money managers around the country “staring at Twitter with their mouths agape,” Akane Otani wrote for Wall Street Journal.

“I mean what is market manipulation?,” Rogozinski said. “You have people that are buying and you have people that are selling, right? If you have a fraudulent intent — if somebody goes up there and lies and says, ‘Oh, BlackBerry has this new hologram cellphone that does whatever,’ and it’s a lie, that is market manipulation. And that’s fraud. But people coming together and saying, ‘Let’s just push this price to the moon’ and being really transparent and no defrauding taking place — that is absolutely what the market is.”

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Edelman said he plans to devote more time to an organization he founded to teach financial advisors about cryptocurrencies and the blockchain.

It’s not unusual for new technology to attract a ton of speculative capital, said Jan van Eck, CEO of Van Eck Associates, in the same “ETF Edge” interview. His company capitalizes on the rise of momentum trading, CNBC reported.

“All new technologies, from the railroad through the cars and everything, attracted a ton of speculative capital and the prices went up too high, but it attracted business activity towards a space that had a lot of technological promise and ultimately a huge impact, a positive impact, on society,” van Eck said.

“That’s great for the economy,” Edelman said. “It’s great for society and humankind. That’s not necessarily great for the individual investor who bought high and sold low. So, you need to protect yourself within this opportunity, within this ecosystem, so that you are personally benefiting and not merely contributing to the benefit of society.“