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Ironically, your last statement is kinda completely inverted. A bunch of financially illiterate newbies who don't know half the terminology and don't understan

by floor2 6y ago

Ironically, your last statement is kinda completely inverted. A bunch of financially illiterate newbies who don't know half the terminology and don't understand the underlying math have gotten tricked into thinking that "it's all rigged" or "it's all a scam" and that they're going to get rich quick by participating in the scam. Completely oblivious to the fact that the only scam happening is to them. Trump-supporters think the election was a scam and barged into the capitol. WSBers think the stock market is a scam and bought GME. Same thing, different day.

traveler01 6y ago
> Trump-supporters think the election was a scam and barged into the capitol. WSBers think the stock market is a scam and bought GME. Same thing, different day. Isn't it? Look at what they've been doing lately to make the GME stocks go down. The small guy always loses.
- Jtsummers 6y ago
  The rate of the drop is certainly in part due to the inability of many retail investors to continue to buy it at a way overvalued price. But the price drop was inevitable, it is (at the time of this comment) overvalued now. Its revenue is hovering around $1 billion per quarter but it's not profitable. Last year it lost half a billion dollars, and even more in 2019.
newobj 6y ago
yes the WSB ambience right now is VERY Qanon-feeling
jrsj 6y ago
Did those supporters just barge into the capital on their own though? Or were they directed to do this to create a specific political outcome, just like the naive WSB “investors”?
rohitb91 6y ago
I was thinking that all of Trump's conditioning to make people think that the news is all fake and disinformation for a cause has ruined people. For example, there were reported that Melvin closed last week. People thought it was fake news. In the article they reportedly lost 53%. If they lied about it, that would be exceptionally serious. Yet, everyone called it fake news, to their own detriment it seems.
- Noos 6y ago
  I don't think so; WSB is too large for that on Reddit, and if anything Reddit is much more anti-trump than anything now. This is more center-left people joining in, similar to BLM in tone I think. Not the same overlap but I'm sure there are some too.

by floor2 6y ago

traveler01 6y ago

> Trump-supporters think the election was a scam and barged into the capitol. WSBers think the stock market is a scam and bought GME. Same thing, different day. Isn't it? Look at what they've been doing lately to make the GME stocks go down. The small guy always loses.

Jtsummers 6y ago
The rate of the drop is certainly in part due to the inability of many retail investors to continue to buy it at a way overvalued price. But the price drop was inevitable, it is (at the time of this comment) overvalued now. Its revenue is hovering around $1 billion per quarter but it's not profitable. Last year it lost half a billion dollars, and even more in 2019.

newobj 6y ago

yes the WSB ambience right now is VERY Qanon-feeling

jrsj 6y ago

Did those supporters just barge into the capital on their own though? Or were they directed to do this to create a specific political outcome, just like the naive WSB “investors”?

rohitb91 6y ago

I was thinking that all of Trump's conditioning to make people think that the news is all fake and disinformation for a cause has ruined people. For example, there were reported that Melvin closed last week. People thought it was fake news. In the article they reportedly lost 53%. If they lied about it, that would be exceptionally serious. Yet, everyone called it fake news, to their own detriment it seems.

Noos 6y ago
I don't think so; WSB is too large for that on Reddit, and if anything Reddit is much more anti-trump than anything now. This is more center-left people joining in, similar to BLM in tone I think. Not the same overlap but I'm sure there are some too.