5/20/2023 0 Comments Apes strong together meme wsb![]() To understand the origins of the movement that is responsible for this Gamestop frenzy, it is worth going back in time to inspect the foundations of r/WallStreetBets. What I look at in this article is the memetic bonds of the r/WallStreetBets community and how they underlie their collective action. ![]() In the media, r/WallStreetBets users' common desire for something akin to “ revenge” seems to be widely cited as the underpinning of their financial movement. Looking underneath the surface, however, the volatility of their own political allegiances is about as unstable as the market. Enciting each other to “ hold” and providing emotional support to each other throughout this chaotic week, they represent an unparalleled collective force. Preying on market volatility and the speculative game of stock trading, these retail investors are more united than they have ever been. All eyes are on redditors from the forum r/WallStreetBets that are waging war against “boomer” investment professionals like Melvin Capital with the power of “ memestocks”. The so-called " Reddit rebellion" is now in full swing. This enraged the community of retail investors, driving them further in their mission to demonstrate their power over finance professionals - but most of all to make unprecedented amounts of profit from “ the wildest short-squeeze” in the history of the stock market. This meant that retail investors were only allowed to sell stock, and not buy. ![]() On Thursday the 28th, stock brockerage application Robinhood, which allows retail investors to buy and sell stock, restricted trading in GME stock. Gamestop shares (GME) have risen by over 1000% since mid-January due to the forum's interest in them, but skyrocketed this week, drawing the attention of institutional short-sellers and investors. Created for the purpose of bringing together private investors, otherwise known as retail investors, r/WallStreetBets is a Reddit subforum that has now accrued 6 million members and is currently upending the Wall Street Exchange by trading short stock in the video-game retailer Gamestop. Over the past few days, a spotlight has been shone on a Reddit community that has been making headlines in the world of finance. Is there method in this madness? r/WallStreetBets This is a pivotal moment that is built on irony. Built on memes and an irreverent attitude to trading "stonks", these Redditors are turning heads in the world of retail investing. The Reddit forum r/WallStreetBets has been wrecking havok in the financial world by investing in failing video game retailer, Gamestop.
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