In a statement posted on the r/WallStreetBets subreddit they said, “Discord did us dirty and I am not impressed with them destroying our community”. The WallStreetBets moderators felt this ban to be grossly unfair and allegations about user comments merely an excuse to take down the platform. Despite some believing that there were financial motivations, WallStreetBets was banned from Discord on 27th January for “continuing to allow hateful and discriminatory content after repeated warnings” according to a comment Discord provided to The Verge. WallStreetBets was banned for the content of posts on its message board. Why was WallStreetBets banned from discord? Copy link to section WSB stands for WallStreetBets – the name of the subreddit that has taken on the hedge funds running big short positions. Quick answers: what are the facts about WSB? Copy link to section What does WSB mean? Copy link to section According to some estimates, short sellers have already lost more than $5 billion and there are signs of WallStreetBets now moving on to target other short sellers. This has caused major financial trouble for any institution with an open short position, and has prompted a larger debate about market manipulation. The amount of money these investors put into the stock saw the share price of GameStop (which had traded around $4 as recently as July 2020) up to as high as $380. This has forced big money investors such as Melvin into a corner from which they can’t escape. In the wake of an earlier projection by Citron Research that GameStop’s share price would fall to $20, users of WallStreetBets decided to take on the ‘experts’ and pile their money into GME shares. This means they believed the stock price would fall, and in order to profit they borrowed lots of shares and sold them, expecting to buy them back at a lower price later and pocket the difference.īut the share price didn’t go down. Melvin Capital Management opened a huge short position on GameStop’s stock. Why is everyone talking about WSB reddit? Copy link to sectionĭiscussion of WallStreetBets has moved from Reddit to major media platforms because one of their ‘bets’ – which relates to brick and mortar game retailer GameStop – ended up causing major problems for a Wall Street hedge fund. There are currently nearly 4.5 million r/WallStreetBets subscribers and posts have risen by more than 2000% – from 300 posts a day in December to 6,000 by January 25th 2021. The interest in this trade saw both subscribers and posts on the WallStreetBets subreddit shoot skywards. It exploded into the public consciousness over the past few days as users decided to ramp up the price of a stock that a major hedge fund was shorting. Over time, WallStreetBets grew and attracted a reputation for promoting high risk leveraged trades and treating stocks like memes. It was founded in January 2012 by entrepreneur Jaime Rogozinski as a hub for individual investors to discuss trading strategies and the stock market. Users of WallStreetBets post and discuss the financial markets, usually pursuing risky investment strategies and looking for stocks that are going ‘to the moon.’ They then invest in these stocks through popular retail investment websites such as Robinhood, eToro, and Fidelity. It is used to discuss potential moves in the stock market. WallStreetBets is a subreddit: an individual message board on the popular internet forum. First, what is WallStreetBets? Copy link to section Here’s everything you need to know about this community of passionate retail investors.

The platform was recently launched into the public eye in the wake of sending GameStop (GME) stock skyrocketing. The r/WallStreetBets subreddit has long been known to users of the platform as a kind of hive mind for day traders, with users approaching the stock market with a combination of hype and memes. In the wake of an internet forum upending the financial markets, this is the question on everyone’s lips: what is WallStreetBets.

R wsb gme