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Member of WSB here, no expert The narrative of GME has been building for weeks before any news coverage happened. This isn't the first stock to blow up from WS
by abrowne2 6y ago
Member of WSB here, no expert
The narrative of GME has been building for weeks before any news coverage happened. This isn't the first stock to blow up from WSB, but there are a few others in past weeks (none that have reached GME levels) such as BB, PLTR, and previously ABNB (whatever new stock that has IPO'd).
There are a handful of users that have $1M positions (some smaller ones, like a user that reported $250k into $7M, back down to $4.2M). Collectively, the community appears to drive hype towards different stocks based on flimsy things.
Without a doubt there's HFT (High frequency trading) happening, but these social communities are having an impact.
- throwaway2a02 6y ago> but these social communities are having an impact What that means is that people controlling those communities (including mods) have an immense advantage.
- abrowne2 6y agoYes. The former creator of WSB, jartek, was removed from the subreddit because he masqueraded as 'WSBgod' an anon user with crazy gains, but it was fake. He also sold ad space in the about section for $1500.
- weird-eye-issue 6y agoOf note they recently banned SPACs which directly means there will be less retail interest in SPACs since you can't even discuss them
- deleted 6y ago[deleted]