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I mean the WSB user count has grown from 2.2m on Monday to now 7.5m. If 5 million of those users all bought $100 worth of GME that's half a billion, if they bou
by nprz 6y ago
I mean the WSB user count has grown from 2.2m on Monday to now 7.5m. If 5 million of those users all bought $100 worth of GME that's half a billion, if they bought $1000, that's 5 billion.
- SpicyLemonZest 6y agoOver 700 million shares were traded last week, so even if every WSB user bought 10 shares, that wouldn't account for close to a majority of the activity.
- belltaco 6y agoVolume is meaningless, as the same share might be traded back and forth several times, e.g HFT or order flow buyers flipping stocks within microseconds.
- SpicyLemonZest 6y agoWould HFT traders flip a stock 10 times among each other just to fulfill a single Redditor's buy order? (Honest question, I don't know enough about standard HFT practices to confidently guess.)
- gruez 6y agoIndeed, figures from citadel shows retail volumes at around 30%. https://www.bloomberg.com/opinion/articles/2021-01-29/reddit-traders-on-robinhood-are-on-both-sides-of-gamestop https://www.bloomberg.com/opinion/articles/2021-01-29/reddit...
- nl 6y ago> the WSB user count has grown from 2.2m on Monday to now 7.5m. If 5 million of those users all... Is 5/7.5M users of any forum did anything it would be some kind of record level conversion, let alone speculating $100.
- malandrew 6y agoOn average I don't think $100 is that crazy. Most haven't YOLO-ed anything. While many YOLO-ed for 1-2 shares, there are many who have YOLO-ed for thousands to tens of thousands of dollars.
- fny 6y agoI'll also add that tons of people I know who have never traded in the markets woke up Tuesday and Wednesday and decided to buy a single share for the lulz. I'm fairly convinced 70% of the volume may have been due to retail.