Wallstreetbets reddit11/25/2023 And as for a Bloomberg Terminal, that’s a piece of financial reporting hardware and software that allows a financial advisor to take a real-time look at the market. Wallstreetbets describes itself as “Like 4chan found a Bloomberg terminal.” For those not in the know, 4chan is an anonymous message board that is frequently the site of humorous imagery (memes, specifically) that has facilitated its own comic and sometimes controversial reputation. However, r/wallstreetbets is nothing like the opinion column of the Wall Street Journal or a roundtable discussion between financial pundits on FoxBusiness. The subreddit Wallstreetbets, also known as WSB and r/wallstreetbets, is a space where stock market investors can talk about (what else) the stock market. Reddit WallStreetBets Slang:Īs you may or may not know, Reddit’s forum is broken into various subreddits, each one dedicated to a particular topic of discussion. Wallstreetbets is an eight million strong forum where members can talk about investing in the stock market. I'm in.Reddit is a social media platform where members can engage in discussion threads about various topics. As one WSB forum member wrote: "Wallstreetbets never fails to find new and inventive ways to lose money. Still, the sense of camaraderie and the joy of sticking a finger in traditional finance's eye is enough for some. GameStop is back down below $200, 50% off its yearly high-great for those who bought at $20, but not so good for members who piled on at the peak. Not that everyone in WallStreetBets has made money from trading. "If it's not about taking advantage of the political to make money then leave that baggage at home," rule #5 reads. There are still rules: "no cheerleading" for assets or fundraising for them, as well as "no political bullshit." Top conversations include the China ban, Solana staking, and shorting Western Union. Though it's officially listed as having been formed on January 25, 2018, discussions date only back to Wednesday. The new subreddit, called WallStreetBetsCrypto, already has 14,000 members. Now, crypto comments have their own home, with far fewer restrictions. This one takes the cake." He went on to explain that other moderators had been fiercely opposed to adding crypto discussions in the first place but that he remained for it. "I've read a lot of dumb articles written about wsb. "Crypto discussion is banned indefinitely," declared bawse1. That concession was reversed within 48 hours after Bloomberg ran an article titled "WallStreetBets Bows to Crypto." That ruffled the forum moderators' egos. bawse1 wrote that the moderators didn't want to "burden everyone with crypto spam" and that the no-crypto rules would apply to the rest of the subreddit. In April, WSB made a small concession to its members interested in cryptocurrency, allowing discussion of Bitcoin, Ethereum, and Dogecoin-but no others-on a single thread. Rule #4 of the forum is "No Pump & Dump, Crypto Discussions, Schemes or Scams." The moderators lump in the $2 trillion asset class with SPACs, OTC stocks, and "other worthless securities that are susceptible to scams." Other times they're harmless (yet useless) meme coins and tokens looking to replicate Dogecoin's and Shiba Inu's multi-billion dollar market caps.īut the WallStreetBets moderators have been standoffish to cryptocurrency. Sometimes the tokens are fly-by-night pump-and-dump schemes facilitated over Telegram. Crypto assets garner the same cultish exuberance as GameStop and other meme stocks do. The price of the stock, which hung below $20 to start the year, went all the way to $400 within a month as the amateur day traders barrelled through hedge funds' short positions and held their nerve.Īt first glance, cryptocurrency trading would seem a perfect topic of discussion at WSB. Its members, who now number close to 11 million, applied memes and the threat of FOMO to encourage their peers to buy up as much GME as they could. The WSB forum was ground zero for GameStop stock purchases earlier this year.
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