What happened between Reddit and Wall Street?

Reddit day traders wanted to beat Wall Street to prove the system is rigged. Instead, they did it by losing. Reddit day traders tried to beat Wall Street at its own game to prove the system is rigged. Instead, brokerages locked them out and their holdings tanked, while some hedge funds still won big.

What is the Reddit Wall Street thing?

Endorsed by Tesla co-founder Elon Musk, wallstreetbets is actually a subreddit, a specialised Reddit forum in which retail investors were taking a particular interest in investing in companies that have the most unfavourable opinion on Wall Street — the ones that are heavily shorted.

Why did Reddit shut down WallStreetBets?

“The WallStreetBets server has been on our Trust & Safety team’s radar for some time due to occasional content that violates our Community Guidelines, including hate speech, glorifying violence, and spreading misinformation,” the Discord spokesperson said.

Is Reddit on the stock market?

Social media platform Reddit has announced that it has started the process to sell its shares on the stock market.

Why is Reddit mad at Wall Street?

Redditors reportedly criticised market analysts like Citron for its predictions on r/wallstreetbets and started to hype up GameStop. This created a narrative that the company’s position was healthier than ever and led to a buying spree that drove up its stock price.

What did Wall Street do?

Wall Street includes the stock market, bond market, commodities market, futures market, and the foreign exchange market. The original purpose of the securities market was to raise funds for companies to grow, be profitable, and create jobs.

What is Tendies?

Tendies refer in general to any financial gain on the stock market and is used when traders make money from a stock. The tie between chicken tenders and financial gain comes from a 4CHAN (a popular image-based board) story about adult men who live with their mothers.

What happened to R WSB?

Reddit group r/WallStreetBets (WSB) has closed its doors and is now a private-only community. What Happened: Only users who moderators have approved will be able to view the page and take part in discussions. Before this shutdown, WallStreetBets had over 10 million members.

Does Reddit own Discord?

no. No. The two platforms are very different and the user base uses each platform to do different things. Reddit is marketed as a more public forum; whereas Discord is meant for more private communication.

How does Reddit make money?

The company generates revenue through advertising and an ad-free premium membership plan. Reddit operates in the application-software segment of the technology industry, providing software that allows users to share media content. The firm recently appointed Drew Vollero as the company’s first CFO.

How did Reddit trick Wall Street?

In this instance, Redditors (the apes) discovered these big Wall Street hedge funds (the snakes) were trying to make quick money on GameStop’s declining share price. So they got together and bought heaps of GameStop shares to drive up its value, screwing over hedge fund traders.

Will Wall Street regulate away your online trading?

Perhaps Wall Street will eventually regulate away the ability of everyday people with online trading accounts, a few hundred dollars and a dream to ruin the days of unimaginably wealthy, predatory hedge funds for sport.

Was Wall Street beaten at its own game by the Internet?

Wall Street giants are calling foul after having been beaten at their own game by a bunch of guys on the internet. It’s hard not to cheer. A customer browses at a GameStop store in West Hollywood, Calif., in May 2016.

Is wallstreetbets the stock market’s equivalent of conspiracy-peddling?

At a time when viral online movements are having a growing influence on real-world events, including the deadly storming of the Capitol on January 6, some are describing the Wallstreetbets saga as the stock market’s conspiracy-peddling equivalent. Wallstreetbets is Occupy Wall Street meets QAnon, goes the thinking.

Do hedge funds secretly control Wall Street?

Its posters talk about taking revenge on the hedge funds they insist have secretly controlled Wall Street and hail their recent triumphs as a win for the 99\% over the wealthiest 1\%. “Hedge fund managers live in the past, and continue to look down upon the retail investors,” wrote one Wallstreetbets commenter on Wednesday.