Even Zohran Mamdani’s detractors recognize that the vibes are with the 33-year-old democratic socialist.“It’s officially hot commie summer,” hedge fund billionaire Dan Loeb said on X, after Mamdani shocked the Democratic establishment by crushing Andrew Cuomo in the party’s primary for the New York City mayoral race.

The stock market rebounded to near record levels, despite an ongoing trade war and escalating tension in the middle east. But investors say that the biggest concern on Wall Street this week was the prospect of a self-proclaimed Democratic Socialist mayor in New York City.

Finance elites backed Cuomo, but NYC voters went left. Now the memes, meltdowns, and Miami escape plans are in full swing.