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Chronicles

The story behind the story

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r/WallStreetBets was made private by moderators for about an hour, but is back online; Discord banned r/WallStreetBets' server, claiming hate speech violations

It went dark for nearly an hour  —  The r/WallStreetBets subreddit's own moderators made it private for a little less than an hour …

The Verge Jay Peters

Discussion

  • @slasher Rod Breslau on x
    wallstreetbets subreddit just went private https://twitter.com/...
  • @tomwarren Tom Warren on x
    I've never seen such an active Discord server as r/WallStreetBets. Discord struggles on a desktop PC (i9-10900K) and my iPhone just burns through battery and gets super hot. There are still dozens of people joining every second. I bet the Discord dev team is learning a lot here h…
  • @slasher Rod Breslau on x
    just in: Discord has shut down the /r/WallStreetBets server for “hate speech, glorifying violence, and spreading misinformation”, a spokesperson for Discord tells me. “To be clear, we did not ban this server due to financial fraud related to GameStop or other stocks”
  • @shawngorlando @shawngorlando on x
    When you play the system against itself and it fights back https://twitter.com/...
  • @slasher Rod Breslau on x
    we back. wsb mods have released a statement, setup a twitter @wsbmod, and taken a shot at Discord “Discord did us dirty and I am not impressed with them destroying our community instead of stepping in with the wrench we may have needed to fix things” https://www.reddit.com/... ht…
  • @my2k Jessica A. M. on x
    I love how this is all illegal the moment the little guys benefit from it LOL https://twitter.com/...
  • @thestalwart Joe Weisenthal on x
    WSB splinter forums emerging... https://twitter.com/...
  • @mcclure111 Mcc on x
    Like, there's a legitimate free speech concern here in a way there is not with a group of people planning and then acting acts of coordinated violence. Except THAT group took like 3 years and 5 actual deaths to get shut down, whereas WSB went down in like 48 hours.
  • @ericlevitz Eric Levitz on x
    Damn. If this can happen to GameStop, no company's safe https://twitter.com/...
  • @xychelsea Chelsea E. Manning on x
    @Slasher I'm a sub and can't see
  • @lanceulanoff Lance Ulanoff on x
    Has one subreddit ever drawn so much attention, or wielded such power? https://www.theverge.com/...
  • @coopercooperco @coopercooperco on x
    These stocks getting tied to a subreddit being private or not is insane. Love our economic system so much https://twitter.com/...
  • @grummz @grummz on x
    They were given repeated warnings for TOS violations. Okay. But why now, this day specifically? https://twitter.com/...
  • @kamilumin Himboist on x
    We have a well functioning economy tied to a well functioning stock market https://twitter.com/...
  • @zerohedge @zerohedge on x
    800,000 new r/wallstreetbets users added today (per BBG). That's over $1.1BN in stimmy checks Hold on to your hats, this is just getting started https://twitter.com/...
  • @macaesbruno Bruno Maes on x
    However, it's not just people who weren't subscribed to the subreddit who are no longer able to access it — many users who say they were subscribed are reporting that they can't view it anymore. https://www.theverge.com/...
  • @kellymakena Makena Kelly on x
    nothing reddit gold can stay https://twitter.com/...
  • @elonmusk Elon Musk on x
    Gamestonk!! https://www.reddit.com/...
  • @josephpalbanese Jpa on x
    the wallstreetbets discord needs to be heard to be believed. it's the modern day version of being on floor of NYSE. https://twitter.com/...
  • @passionweiss Otto Von Biz Markie on x
    Maybe the hedge fund can learn to code
  • @jyarow Jay Yarow on x
    WSB has a message for the regulators. https://twitter.com/...
  • @miakhalifa Mia K. on x
    BUY NOKIA !!!!!!!
  • @jsccounterpunch Jeffrey St. Clair on x
    If Judith Miller reported on Wall Street ... https://twitter.com/...
  • @bloombergtv Bloomberg TV on x
    Gamestop shares rocketed more than 800% in the last two weeks — but is anything illegal actually happening? Former SEC Prosecutor David Chase talks to @emilychangtv about the retail investor craze https://www.bloomberg.com/... https://twitter.com/...
  • @sarahljaffe Sarah Jaffe on x
    everyone should be invested in the stock market, they said. treat everything like a market, they said. oh wait not like that now you're rank amateurs lol god this is too funny https://twitter.com/...
  • @clairlemon Claire Lehmann on x
    Unlike professional investors who are propelled by a mix of altruism and selflessness https://twitter.com/...
  • @lionelbarber Lionel Barber on x
    The populist uprising in the stock market, with forgotten retail investors attacking short sellers and hedge funds, is an extraordinary story mirroring our politics and highlighting the power of networks #Reddit https://www.ft.com/... via @financialtimes
  • Vox Emily Stewart on x
    How a bunch of Redditors made GameStop's stock soar, much to the chagrin of the hedge funds attempting to short it.
  • @profgalloway Scott Galloway on x
    What happened here (i.e., GMS)? —It's about sex... —Specifically, young men not having (enough) sex —Sex leads to relationships, obligations and guardrails (don't get in fights, we need you. Don't gamble your paycheck, we need to save for a house)
  • @jeneps Jennifer Epstein on x
    Biden team is “monitoring the situation” around GameStop.
  • @jbillinson Josh Billinson on x
    Looks like Robinhood just stopped supporting GameStop, AMC, Blackberry, and Nokia. Users can close out positions but can't buy more https://twitter.com/...
  • @nope_its_lily Lily on x
    Robinhood is killing GME and AMC. https://twitter.com/...
  • @alibreland Ali Breland on x
    i can report from the telegram channels that the nazis appear to be trading gamestop and amc as well
  • @khoustephanie Stephanie Whitfield on x
    An investor shared these screen grabs this morning showing Robinhood is limiting purchases of Reddit stocks: AMC, Blackberry, Nokia and GameStop #khou11 https://twitter.com/...
  • @cirnoplusplus Cirno on x
    >This man on Fox News just said that they should “ban social media from talking about short stocks” https://twitter.com/...
  • @hshaban Hamza Shaban on x
    Part of the GameStop absurdity and chaotic revelry is seeing news outlets publish Reddit usernames with a straight face https://twitter.com/...
  • @ericbalchunas Eric Balchunas on x
    THEY DID IT: $GME was the most traded equity on the planet today w/ $20b in volume, more than $SPY, $AAPL and even the Mighty $TSLA. Surreal. https://twitter.com/...
  • @thestalwart Joe Weisenthal on x
    https://twitter.com/...
  • @senwarren Elizabeth Warren on x
    For years, the same hedge funds, private equity firms, and wealthy investors dismayed by the GameStop trades have treated the stock market like their own personal casino while everyone else pays the price.
  • @alexstamos Alex Stamos on x
    The WallStreetBets manipulation of $GME is now the best template for how one could monetize an influence operation.
  • @slasher Rod Breslau on x
    lmao GameStop hits 230 after hours and is now worth more than $10 billion. WSB, reddit, and gamers, the internet is undefeated https://twitter.com/...
  • @haymarketbooks @haymarketbooks on x
    https://twitter.com/...
  • @thestalwart Joe Weisenthal on x
    $AMC up over 240% now! https://www.bloomberg.com/... https://twitter.com/...
  • @tomgara Tom Gara on x
    Blockbuster Video is a membership-based video entertainment service that preparing the launch of a cutting edge streaming service that will have *huge* potential both in the US and China https://twitter.com/...
  • @mattzeitlin Matthew Zeitlin on x
    It's too perfect that the Reddit boom is in movies, video games, and soda https://twitter.com/...
  • @broderick Ryan Broderick on x
    I think this is halfway to really understanding what the GameStop pump is doing. If our economy is hooked up to an internet dominated by corporate-owned social platforms that incentivize virality, then, at certain point, commerce and virality just become the same thing. https://t…
  • @charliebilello Charlie Bilello on x
    The 10 most heavily shorted stocks in the Russell 3000 entering the year are now up an average of 223% YTD. $GME Data via @ycharts https://twitter.com/...
  • @asymco Horace Dediu on x
    Apparently the Dow is down because “Some investors may have had to liquidate long positions to cover their unraveling short bets on GameStop stock and others. All three major U.S. indexes in the red”
  • @zeithistoriker Quinn Slobodian on x
    The Reddit GameStop thing is worth it alone to make people say hilarious things like this https://twitter.com/...
  • @b_fung Brian Fung on x
    Former SEC chair calls for an agency investigation into online stock trading platforms and likens them to the way social media takes advantage of users' behavioral psychology: https://www.bloomberg.com/... https://twitter.com/...
  • @mmasnick Mike Masnick on x
    New Mets owner Steve Cohen had to bail out Melvin Capital because a bunch of stock trading kids on Reddit massively pumped up GameStop, putting Melvin's $13 billion at risk of disappearing. If that leads to the Mets cutting payroll, it would be the most Mets story ever.
  • @brandyljensen Brandy Jensen on x
    oh no the wrong people are manipulating the stock market
  • @edmundlee Edmund Lee on x
    When Reddit daytraders are beating hedge funds you know the bubble is coming for you $gme https://www.wsj.com/...
  • @barry Barry Petchesky on x
    This is, without context, maybe the funniest sentence imaginable, and with context it's not much less funny https://twitter.com/...
  • @mannyfidel Manny on x
    this is what happens when you randomize a GTA character https://twitter.com/...
  • @iowahawkblog David Burge on x
    America's most tragic mental illness problem: gleeful subreddit shitposters making millions from the stupid decisions of my now-bankrupt hedge fund friends https://twitter.com/...
  • @grady_booch Grady Booch on x
    The former SEC chairman: “The SEC can take steps right now to curb the day-trading frenzy and help safeguard the investing public.” Let me edit that: “We can take steps right now to safeguard things we've been doing behind closed doors for decades.” https://www.bloomberg.com/...
  • @syndicate Tom on x
    Honestly i'm so happy to say I've followed this for a few days now.. literally history in the making! 🚀🚀🚀 Regardless of the outcome, what a crazy rollercoaster it's been to watch 😅 https://twitter.com/...
  • @senwarren Elizabeth Warren on x
    It's long past time for the SEC and other financial regulators to wake up and do their jobs - and with a new administration and Democrats running Congress, I intend to make sure they do.
  • @senwarren Elizabeth Warren on x
    With stocks soaring while millions are out of work and struggling to pay bills, it's not news that the stock market doesn't reflect our actual economy. https://www.vox.com/...
  • @bdsams Brad Sams on x
    I like that the narrative is retail traders banding together is the problem and not a hedge fund shorting 140% of the available stock to destroy a company.
  • @cnbc @cnbc on x
    Melvin Capital closed out its short position in GameStop on Tuesday afternoon after taking a huge loss, the hedge fund's manager told @andrewrsorkin. https://www.cnbc.com/...
  • @bopinion @bopinion on x
    The people investing in the likes of GameStop today are driven by righteous anger about: ➡️ Generational injustice ➡️ The perceived corruption and unfairness of the way banks were bailed out in 2008 ➡️ Lacerating poverty and inequality https://www.bloomberg.com/...
  • @countdankulatv @countdankulatv on x
    If the last 4 years has taught us anything, it's that this phrase means the White House intends to do absolutely nothing. https://twitter.com/...
  • @markets @markets on x
    Trading was halted on Tootsie Roll stock after soaring 53% into record territory as retail traders pour into heavily-shorted stocks https://www.bloomberg.com/...
  • @balajis @balajis on x
    Crypto and WallStreetBets have the same spirit: a vision of truly free markets where *everyone* plays by the same rules. We're all seeing the thumb on the scales for stock prices today. And we'll see it for dollar prices tomorrow. https://twitter.com/...
  • @deepakshenoy Deepak Shenoy on x
    Gamestop is now at $33 billion market cap. They should quickly do a $1bn sale of equity at this price - and pay off debt.
  • @carnage4life Dare Obasanjo on x
    In a few days or weeks we're going to be reading stories of people inspired to put all they had in $GME, $AMC & $BBBY only to lose a bunch of money. This is inevitable and will hurt. A lot. https://twitter.com/...
  • @pattymo Patrick Monahan on x
    Ten year-old me calling Electronics Boutique every day for a week asking if Link's Awakening had come in yet https://twitter.com/...
  • @emilygorcenski @emilygorcenski on x
    There are like four different entirely relevant historical threads happening at the same time and every single one of them is mindbendingly stupid in the most hilarious way possible https://twitter.com/...
  • @jbarro Josh Barro on x
    I guess Robinhood's thinking is shutting off access to the bubble won't cost them as many customers as letting even more customers go broke in the bubble?
  • @dcseifert Dan Seifert on x
    the Robinhood app sure didn't give a shit about volatile stocks when it was the little guys losing all the money
  • @matthew_d_green Matthew Green on x
    This isn't Robinhood making the markets safer. This is just Wall Street picking winners. Nothing good is going to come of this.
  • @justinkan Justin Kan on x
    Robinhood not allowing trading of $GME and $AMC. The elites have the financial system rigged. Why would any user trust Robinhood ever again?
  • @fintechfrank Frank Chaparro on x
    Robinhood won't let users buy $GME $AMC or $NOK, but they'll let them buy Dogecoin. Let that sink in for a second.
  • @teroterotero Tero Kuittinen on x
    Nokia down nearly -23%... you can see the impact of Robinhood ban on buying the stock after 8 AM. https://twitter.com/...
  • @cnbcnow @cnbcnow on x
    BREAKING: SEC releases statement on “ongoing market volatility,” saying it is working with “our fellow regulators to assess the situation and review the activities of regulated entities, financial intermediaries, and other market participants” https://www.cnbc.com/... https://twi…
  • @jmountfordfp Jason Mountford on x
    So GME seems to have literally broken retail investors access to the market right now. Trading212 down. ETrade down. Robinhood in the US down. Ameritrade down. If you aren't following this story you need to start, it is crazy.
  • @slasher Rod Breslau on x
    trading has been halted, Robinhood is down, and wall street is in full blown panic mode all from a subreddit, shitposters, gamers, and degenerates from all corners of the internet. it's beautiful
  • @cesveez Ces Veez on x
    robin hood servers really down right now
  • @alexwhitcomb Alex Whitcomb on x
    I have to say—watching people rise up and take money from the rich to redistribute to others using an app called Robinhood is pretty damn poetic.
  • @sciguyspace Eric Berger on x
    Love the commitment to finding innovative ways to pay down the national debt. https://twitter.com/...
  • @cnbc @cnbc on x
    “What's happening with GameStop is a pushback against the establishment in a really important way,” @chamath says. Anyone who is dismissive should read the forums, he adds. https://www.cnbc.com/... https://twitter.com/...