Redditors Create Chaos On Wall Street

I have no idea what is going on.

It feels like the beginning of something new though.

Business Insider:

“Like BitcoinTesla, and the SPAC IPO, the Reddit forum r/wallstreetbets grew exponentially in 2020. In the first weeks of 2021, it discovered just how strong it’s become.

The subreddit’s subscriber count ballooned by 133% to 1.8 million members last year. Growth accelerated further this month, and the forum’s 2.2 million current members now drive one of the platform’s most active pages.

Members have spent the past three weeks bidding up the video game retailer GameStop, and the results have been spectacular. Shares have skyrocketed more than 1,200% since Wall Street Bets first piled in January 11. Their overwhelming bullishness has fueled billions of dollars in losses for short-sellersOne bear has even stopped commenting on GameStop stock, citing harassment from some members.

Wall Street Bets has done this before. Options-obsessed members have boasted about trading everything from newly bankrupt car-rental giants to now-delisted Chinese café chains. They’re particularly big fans of electric-vehicle stocks; Tesla enjoys unique enthusiasm on the forum. …”

Is this “outsider trading”?

About Hunter Wallace 11675 Articles
Founder and Editor-in-Chief of Occidental Dissent

10 Comments

  1. The news is all upbeat under Biden’s (and Kamala’s) good leadership, including news of American citizens dying of Covid at 100,000 PER MONTH now, at three times the rate under Trump, but that’s okay, everything is better now: https://www.msn.com/en-us/news/us/cdc-100k-projected-to-die-of-coronavirus-in-biden-s-first-month-in-office/ar-BB1d9qb6?ocid=msedgntp

    It won’t matter even if 200,000 die per month now. The news is upbeat. Everything is infinitely better now, everything is being managed responsibly now, everything is good now EXCEPT Communist Korea, China, Russia, Iran, Syria, Yemen, Venezuela, Nicaragua, Cuba, and White supremacists.

  2. The SEC and the Federal Reserve will never be able to shutdown the trade in penny stocks. It will never happen, unless we go into full on communism.

    I will take chances on longs, based on the old “Harvard value theory of investment”. Shorts are too risky, and naked shorts are just crazy!

  3. Oh nose – some Hedge Fund-running d-bag from Greenwich can only afford a G550 instead of a G650 now! The reddit spergs are doing the same thing with AMC theater stonk – it’s like annudah Shoah!

  4. silver, bitches!

    during 2010-2011, Haxo made 300% on SLV, a mere paper derivative. Now

    he holds the solid. And lead.

    good times comin’.

    • Better than this debased script that keeps losing value , at an accelerating rate.
      Been to the store lately?

      JSA is looking more like a S American banana republic, every day.

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