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I always find this style of reporting rather unedifying - >No one is in charge of this effort, though, of course, some voices are louder than others. There ha

I always find this style of reporting rather unedifying - >No one is in charge of this effort, though, of course, some voices are louder than others. There has been a history of moderators on WSB using their position to push certain agendas. I think it's more accurate to say "We don't know of any group co-ordinating this effort" - because I don't think its far fetched that there is one. All this article is really saying is "I've taken this sub-reddit at complete face value." >They’ve shown, in a sense, that if you pick the right stocks, a self-organized community of small investors can make them rise, Some users are posting investments of over $750k that are now up to $22m in value. How many people on WSB are actually investing and driving up the price? 10? 100? 1000? We have no idea. I personally find it hard to believe that 1000 redditors are investing enough to actually matter compared to the top investors who are investing hundreds of thousands.

jiofih 6y ago
There are many posts there with sizable investments, up to $1M. A few of those + thousands of smaller trades can definitely move the price. Think 50k people investing 1000 each.
- Traster 6y ago
  I'm not saying there's definitely only a handful of people actually driving the price. What I'm saying is that I don't think we have any real evidence about the number of people really involved, the level of their investment. The only evidence this article is presenting is literally just taking reddit comments at face value. This situation could likely have been created by a single ballsy hedge fund if they wanted to, with the comments on reddit being entirely fictional.
  - jiofih 6y ago
    That would be really easy to spot from the volume and order book.
vga805 6y ago
WSBs has 2 million users. What on earth makes you think 1000 redditors is hard to believe? It was likely hundreds of thousands before it went viral.
incrudible 6y ago
You better believe it. The board has 2.5 million users, many of them piling into the same stock. They get huge leverage and are ready to gamble hard, often blowing up in the process, but as they say: YOLO. A professional trader on the other hand may have more money to trade with, but will not risk their career by making dumb overleveraged bets on a single stock.
- Fabricio20 6y ago
  Except the professional traders decided to short a stock over 100% and got caught doing so by the private "retards".
  - incrudible 6y ago
    One hedge fund making such a bet does not reflect the entirety of the profession. My point is that the money these retail investors control due to leverage, recklessness and sheer numbers makes up for the higher AUM of professionals. The story isn't over yet anyway, unlike with TSLA, literally nothing about GME justifies its current price. It remains to be seen how many of those "retards" are willing to YOLO away their money "for the lulz" and who is going to take their profits.
bagacrap 6y ago
By "some users" you really mean one user, dfv, and his investment is actually much lower, but due to trading into new positions his cost basis appears to be ~750k.
- ohgodplsno 6y ago
  /u/DeepFuckingValue bought in when the stock was $4. Diamond hands.

jiofih 6y ago

There are many posts there with sizable investments, up to $1M. A few of those + thousands of smaller trades can definitely move the price. Think 50k people investing 1000 each.

Traster 6y ago
I'm not saying there's definitely only a handful of people actually driving the price. What I'm saying is that I don't think we have any real evidence about the number of people really involved, the level of their investment. The only evidence this article is presenting is literally just taking reddit comments at face value. This situation could likely have been created by a single ballsy hedge fund if they wanted to, with the comments on reddit being entirely fictional.
- jiofih 6y ago
  That would be really easy to spot from the volume and order book.

vga805 6y ago

WSBs has 2 million users. What on earth makes you think 1000 redditors is hard to believe? It was likely hundreds of thousands before it went viral.

incrudible 6y ago

You better believe it. The board has 2.5 million users, many of them piling into the same stock. They get huge leverage and are ready to gamble hard, often blowing up in the process, but as they say: YOLO. A professional trader on the other hand may have more money to trade with, but will not risk their career by making dumb overleveraged bets on a single stock.

Fabricio20 6y ago
Except the professional traders decided to short a stock over 100% and got caught doing so by the private "retards".
- incrudible 6y ago
  One hedge fund making such a bet does not reflect the entirety of the profession. My point is that the money these retail investors control due to leverage, recklessness and sheer numbers makes up for the higher AUM of professionals. The story isn't over yet anyway, unlike with TSLA, literally nothing about GME justifies its current price. It remains to be seen how many of those "retards" are willing to YOLO away their money "for the lulz" and who is going to take their profits.

bagacrap 6y ago

By "some users" you really mean one user, dfv, and his investment is actually much lower, but due to trading into new positions his cost basis appears to be ~750k.

ohgodplsno 6y ago
/u/DeepFuckingValue bought in when the stock was $4. Diamond hands.