3 ms·
While it's mostly for jokes, it's also hit r/all enough times and has enough subs that if the sub jumps on a particular meme stock, they are enough to actually
by Spellman 7y ago
While it's mostly for jokes, it's also hit r/all enough times and has enough subs that if the sub jumps on a particular meme stock, they are enough to actually make it move.
So, it's somewhat ironically become a way to coordinate purchase/selling of a stock by getting enough of the hivemind to go along with a particular stock.
It's still a terrible place for general advice though.
- ashleyn 7y agoSo...a pump and dump then.
- xxpor 7y agoIs a pump and dump illegal if everyone's in on the joke though?
- gruez 7y agoI don't think the SEC would buy that excuse. Even on thinly traded stocks there's going to be volume from non /r/wsb participants.
- bobthepanda 7y agoOnly way to find that out is through precedent.
- Spellman 7y agoI mean, there are definitely those who are trying to exploit r/WSB to do that I'm sure. But at the same time, it's not like there's defacto leaders. It's more once the zeitgeist takes hold mobs of people will, for whatever reason, follow along. I'm sure there are a lot of very smart people trying to figure out how to weaponize this and have their positions locked in before the mobs move the market and time their exits.