A look at r/WallStreetBets, a 2M-member subreddit that helped push GameStop's stock to record highs and is now facing allegations of harassment
Over the past several weeks, GameStop stock has traded … Philip Stafford / Financial Times : GameStop and BlackBerry shares soar on amateur traders' fervour YouTube : The Big Short SQUEEZE from $5 to $50? Could GameStop stock (GME) explode higher?? Value investing! Siraj Sarwar / Finbold : Focus on next stocks as WallStreetBets subreddit-driven pumps continue Bloomberg : GameStop Short-Sellers Reload Bets After $6 Billion Loss Maggie Fitzgerald / CNBC : Bed Bath & Beyond, AMC rally with GameStop as little investors squeeze hedge funds in more stocks Ben Winck / Business Insider : GameStop short-sellers lost $1.6 billion in a single day as Reddit traders rebelled against them Emily Stewart / Vox : How a bunch of Redditors made GameStop's stock soar, much to the chagrin of the hedge funds attempting to short it. Martin Peers / The Information : The Clubhouse Investment Boom: The Information's Tech Briefing Matt T.M. Kim / IGN : GameStop Investors Share Why They Went Big on the GME Stock Squeeze Ethan Gach / Kotaku : GameStop Has Another Record-Shattering Day On Wall Street Andy Chalk / PC Gamer : Reddit messes with investors by driving GameStop stock price to record heights Murad Hemmadi / The Logic : BlackBerry boosted by message-board momentum Tweets: Ryan Delk / @delk : A bunch of Redditors have started identifying stocks with high levels of short interest and manufacturing short squeezes via their Robinhood accounts, making themselves millionaires in the process. Today's target is $GME. The craziest thing I've seen in a while. https://twitter.com/... Daniel Ahmad / @zhugeex : Gamestop stock up 125% thanks to r/wallstreetbets lmao https://twitter.com/... Joe Weisenthal / @thestalwart : This is the key thing right here. Weaponizing daytrading as a form of generational warfare against the old guard in the market https://www.bloomberg.com/... https://twitter.com/... @ivanthek : https://twitter.com/... Kevin Roose / @kevinroose : A bunch of bored Redditors singlehandedly destroying the efficient market hypothesis feels like it should be a bigger story. https://twitter.com/... Joe Weisenthal / @thestalwart : **GAMESTOP TURNED RED** https://www.bloomberg.com/... https://twitter.com/... Joe Weisenthal / @thestalwart : $GME has plunged 50% since this morning https://www.bloomberg.com/... https://twitter.com/... Stephen Koukoulas / @thekouk : That's funny. I know traders who turned $10,000 into $100. They don't get the same coverage. https://twitter.com/... @quill18 : As someone who subscribes to /r/WallStreetBets (but doesn't SUBSCRIBE to it, if you know what I mean) — watching some random redditors destroy hedgefunds through memes has been incredibly entertaining. https://www.bloomberg.com/... John Dickerson / @jdickerson : This sentence feels like it's in a flashback scene of a market crash documentary: “In the battle between short-seller Citron Research and an army of Reddit-charged day traders, GameStop Corp.'s seemingly endless rally to an all-time high.” https://www.bloomberg.com/... Thee Anthony Fantano / @theneedledrop : What does it mean for the stock market when random Redditors can inflate a stock's price for the lulz—and $$$? https://twitter.com/... Paul Tassi / @paultassi : when u think abt it isnt the stock market truly just th last co-op video game to be beaten https://twitter.com/... Andrea Rene / @andrearene : I didn't understand most of this article but boy does our economy have problems if Reddit can so easily pull the strings ☠️📈📉 https://twitter.com/... Vincent Bevins / @vinncent : Love to see once more that we run the global economy in the best way possible https://twitter.com/... @bopinion : Take one person who's long for fundamental reasons, add 100 people who are long for amusement reasons like “lol gaming” or “let's mess with the shorts,” and then add thousands more who are long because they see everyone else long, and the stock moves: https://www.bloomberg.com/... https://twitter.com/... Josh Wingrove / @josh_wingrove : Somehow the GameStop thing also includes dipping a chicken tender in champagne. https://twitter.com/... Marketstream Io / @marketstream_io : The Yolo Index (which tracks the short term performance of r/wallstreetbets and other trading subreddits) is up 916% since January 1st 2020. While this index has historically done poorly, 2020 has been a truly incredible year. So why now? And how much longer can it last? https://twitter.com/... Paolo Pedercini / @molleindustria : Just a bunch of memelords tossing the corpse of gamestop around for the lolz, revealing the arbitrary and memetic nature of financial markets in the process. https://www.wired.com/... @film_girl : Again, for the people smart enough to execute these early trades, game on. Fine. What seriously scares me is the many, many, many people who are piling on thinking this will make them rich. Dare Obasanjo / @carnage4life : Somebody bought Gamestop at over $150 today and it's already down to half that. This isn't even day trading, it's hour trading. Lots of 😭 on /WallStreetBets when this is over. https://twitter.com/... Jason Schreier / @jasonschreier : The entire U.S. economy is based on nonsense. Like a house foundation made up entirely of peanut brittle https://twitter.com/... Eric Geller / @ericgeller : More proof that the stock market is astrology for men. https://twitter.com/... @flglmn : how do i convince reddit that making something i own stock in go up would be funny https://twitter.com/... Alec Stapp / @alecstapp : The efficient market hypothesis says you can't consistently beat the market on a risk-adjusted basis. It doesn't say that asset prices are always rational or based purely on fundamentals (i.e., discounted future cash flows). https://twitter.com/... Joe Weisenthal / @thestalwart : The guy who spearheaded the $GME short-squeeze made a video 5 months ago where he just laid it all out. What's striking is that, YOLO trading aside, his analysis and the case he makes for the ongoing relevence of physical game retailing, is very well done https://www.youtube.com/... Lisa Abramowicz / @lisaabramowicz1 : “While fundamentals may one day matter again, for now GameStop has become the latest and greatest show of force by newbie day traders in a market that seems more like their plaything each day.” https://www.bloomberg.com/... Garry Tan / @garrytan : TIL there's Chewy magic startup pixie dust being sprinkled on GameStop via activism by former CEO of Chewy, Ryan Cohen https://www.bloomberg.com/... Charlie O'Donnell / @ceonyc : SEC: We need to make sure that a limited number of already wealthy people can access diversified high-risk pools of venture capital investments run by full-time, experienced professionals. Also the SEC: This is fine: https://twitter.com/... Patrick McGee / @patrickmcgee_ : Amazing story. “On Friday, 194m shares were traded, over 12 times its average trading volume. In the Discord's voice channel, where hundreds participated in the “gme-rocket,” yelling, humming, and intermittent announcements coalesced into something like a Gregorian chant” https://twitter.com/... David Brauer / @dbrauer : What's happening with chat board investors is crazy. The latest? GameStop is a hot stock. Everybody who shorted stock in a company with four years of declining sales is taking a bath. https://www.wsj.com/... Jesse Felder / @jessefelder : ‘It was at that point that the value trade thesis and the idea of forming an unofficial cooperative to swarm the stock coalesced into what would eventually push the shares to the promised land: a chance to inflict pain against Wall Street. For a change.’ https://www.bloomberg.com/... James Ball / @jamesrbuk : The world is just getting so deeply weird. https://twitter.com/... Michael B. Kelley / @michaelbkelley : ‘Another online watershed occurred when user “Senior_Hedgehog” alerted the YOLOing masses to the “biggest short squeeze of your entire life.”’ fascinating stuff https://twitter.com/... Caitlin McCabe / @mccabe_caitlin : “We broke it. We broke GME at open,” one Reddit user wrote Monday after the NYSE halted trading, referring to GameStop's stock-market ticker. A good read from @josephttwallace on today's GameStop craziness: https://www.wsj.com/... Bloomberg TV / @bloombergtv : GameStop closed at a record high as an army of Reddit-charged day traders battled short-seller Citron Research. @DavidWestin asked former Treasury secretary Lawrence H. Summers if social media is damaging to the market. https://www.bloomberg.com/... https://twitter.com/... Eric prvncher / @prvncher : Insane that a subreddit can band together and pool enough money to tilt a stock like GameStop to such heights, bankrupting short sellers who maintain that the market must have some tether to reality https://twitter.com/... Aaron Mehta / @aaronmehta : I honestly don't know enough about how the market works to know if this is a massive, game breaking moment or if it's just one of those fluke internet things. But it's wild. https://www.wired.com/... Daniel Ahmad / @zhugeex : For those wondering, this isn't because Gamestop is doing well or anything. It's just a subreddit that's betting against short sellers. https://www.wired.com/... Joe Weisenthal / @thestalwart : HAHAHAH https://www.bloomberg.com/... https://twitter.com/... Southpaw / @nycsouthpaw : The traditional institutions of the stock market have their own “angry mob” to deal with. https://www.bloomberg.com/... Joe Weisenthal / @thestalwart : Redditors declare victory in the battle of GameStop https://www.bloomberg.com/... Noah Kulwin / @nkulw : “As the Reddit user with the name Hagizzo concluded this morning in a post touting GameStop: ‘F— the shorts, f— fundamentals. This is a once in a lifetime opportunity.’ Also: ‘And for the boomers and the S.E.C., this is not financial advise (sic).’” https://t.co/gqy5NOpyb1 Ariel Bogle / @arielbogle : I highly recommend today's Garbage Day newsletter for the latest r/WallStreetBets' madness: “a large-scale 4chan-style astro turfing campaign on the stock market” https://www.garbageday.email/ ...? https://twitter.com/... Shira Ovide / @shiraovide : I also need a very long explanation about what the heck is happening with the Wall Street Bets subreddit and GameStop. Like this but MORE: https://www.bloomberg.com/... Joshua Topolsky / @joshuatopolsky : Great distillation of a very 2021 phenomenon https://twitter.com/...
A bunch of Redditors have started identifying stocks with high levels of short interest and manufacturing short squeezes via their Robinhood accounts, making themselves millionaires in the process. Today's target is $GME. The craziest thing I've seen in a while. https://twitter.c…
This is the key thing right here. Weaponizing daytrading as a form of generational warfare against the old guard in the market https://www.bloomberg.com/... https://twitter.com/...
The Yolo Index (which tracks the short term performance of r/wallstreetbets and other trading subreddits) is up 916% since January 1st 2020. While this index has historically done poorly, 2020 has been a truly incredible year. So why now? And how much longer can it last? https://…
As someone who subscribes to /r/WallStreetBets (but doesn't SUBSCRIBE to it, if you know what I mean) — watching some random redditors destroy hedgefunds through memes has been incredibly entertaining. https://www.bloomberg.com/...
This sentence feels like it's in a flashback scene of a market crash documentary: “In the battle between short-seller Citron Research and an army of Reddit-charged day traders, GameStop Corp.'s seemingly endless rally to an all-time high.” https://www.bloomberg.com/...
Take one person who's long for fundamental reasons, add 100 people who are long for amusement reasons like “lol gaming” or “let's mess with the shorts,” and then add thousands more who are long because they see everyone else long, and the stock moves: https://www.bloomberg.com/..…
Just a bunch of memelords tossing the corpse of gamestop around for the lolz, revealing the arbitrary and memetic nature of financial markets in the process. https://www.wired.com/...
Again, for the people smart enough to execute these early trades, game on. Fine. What seriously scares me is the many, many, many people who are piling on thinking this will make them rich.
Somebody bought Gamestop at over $150 today and it's already down to half that. This isn't even day trading, it's hour trading. Lots of 😭 on /WallStreetBets when this is over. https://twitter.com/...
The efficient market hypothesis says you can't consistently beat the market on a risk-adjusted basis. It doesn't say that asset prices are always rational or based purely on fundamentals (i.e., discounted future cash flows). https://twitter.com/...
The guy who spearheaded the $GME short-squeeze made a video 5 months ago where he just laid it all out. What's striking is that, YOLO trading aside, his analysis and the case he makes for the ongoing relevence of physical game retailing, is very well done https://www.youtube.com/…
“While fundamentals may one day matter again, for now GameStop has become the latest and greatest show of force by newbie day traders in a market that seems more like their plaything each day.” https://www.bloomberg.com/...
SEC: We need to make sure that a limited number of already wealthy people can access diversified high-risk pools of venture capital investments run by full-time, experienced professionals. Also the SEC: This is fine: https://twitter.com/...
Amazing story. “On Friday, 194m shares were traded, over 12 times its average trading volume. In the Discord's voice channel, where hundreds participated in the “gme-rocket,” yelling, humming, and intermittent announcements coalesced into something like a Gregorian chant” https:/…
What's happening with chat board investors is crazy. The latest? GameStop is a hot stock. Everybody who shorted stock in a company with four years of declining sales is taking a bath. https://www.wsj.com/...
‘It was at that point that the value trade thesis and the idea of forming an unofficial cooperative to swarm the stock coalesced into what would eventually push the shares to the promised land: a chance to inflict pain against Wall Street. For a change.’ https://www.bloomberg.com…
‘Another online watershed occurred when user “Senior_Hedgehog” alerted the YOLOing masses to the “biggest short squeeze of your entire life.”’ fascinating stuff https://twitter.com/...
“We broke it. We broke GME at open,” one Reddit user wrote Monday after the NYSE halted trading, referring to GameStop's stock-market ticker. A good read from @josephttwallace on today's GameStop craziness: https://www.wsj.com/...
GameStop closed at a record high as an army of Reddit-charged day traders battled short-seller Citron Research. @DavidWestin asked former Treasury secretary Lawrence H. Summers if social media is damaging to the market. https://www.bloomberg.com/... https://twitter.com/...
Insane that a subreddit can band together and pool enough money to tilt a stock like GameStop to such heights, bankrupting short sellers who maintain that the market must have some tether to reality https://twitter.com/...
I honestly don't know enough about how the market works to know if this is a massive, game breaking moment or if it's just one of those fluke internet things. But it's wild. https://www.wired.com/...
For those wondering, this isn't because Gamestop is doing well or anything. It's just a subreddit that's betting against short sellers. https://www.wired.com/...
I highly recommend today's Garbage Day newsletter for the latest r/WallStreetBets' madness: “a large-scale 4chan-style astro turfing campaign on the stock market” https://www.garbageday.email/ ...? https://twitter.com/...
“As the Reddit user with the name Hagizzo concluded this morning in a post touting GameStop: ‘F— the shorts, f— fundamentals. This is a once in a lifetime opportunity.’ Also: ‘And for the boomers and the S.E.C., this is not financial advise (sic).’” https://t.co/gqy5NOpyb1
I also need a very long explanation about what the heck is happening with the Wall Street Bets subreddit and GameStop. Like this but MORE: https://www.bloomberg.com/...
Who is going to make the documentary for r/wallstreetbets? The squeeze in $GME today is enough to cover a few hours of content alone. https://www.bloomberg.com/...
The stock market is just fantastically weird right now. It's such a huge story, and very reminiscent of the political system being overrun by memelords in 2016, as whatever you'd call the establishment just looked on in confusion / terror / horror https://www.bloomberg.com/...