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[TamerVirus]

The stock literally went from ~$140 to ~$300 a share overnight yesterday
Just a couple of months ago it was ~$10
Some people are making absurd money off of this; it's historical

[Cthulhu]

Yeah, word on the street is Melvin's shorts expire close of trading Friday at the latest, so that's when shit will really hit the fan.  They put out a CNBC announcement that they'd already bought them out, but you can just look at the short interest to see they're bluffing. 

Most of the money is still being made by the big boys though.  Blackrock has come out billions richer, and Citadel apparently has the robinhood API and can just frontrun any trading activity, ensuring they're perpetually a few milliseconds ahead of the meme market while cannibalizing the loser funds like Melvin.

[TamerVirus]

It's Occupy Wall Street kinda sorta all over again

[Vector]

If we get a 1929 style stock market crash over this shit . . .

[MonkeyHead]

Fucked up 21st century version of Tulip bulbs. Yay capitalism!

[bloop_bleep]

There's now 3.2M members of r/wallstreetbets in total at this point. I think the average investment amount of the members is at least $1000. Quite possibly more. That's already 3.2B dollars. They're like a huge retail investors' hedge fund now. It's like they accidentally unionized into a working class investors' union and are just now discovering their power.

Fucked up 21st century version of Tulip bulbs. Yay capitalism!

But do you think this may be a good thing?

[Kagus]

Fucked up 21st century version of Tulip bulbs. Yay capitalism!

But do you think this may be a good thing?

For Bitcoin? Absolutely.

[MrRoboto75]

Fucked up 21st century version of Tulip bulbs. Yay capitalism!

But do you think this may be a good thing?

For Bitcoin? Absolutely.

This post was bad for bitcoin.

[Rolan7]

I think this works, right?  At least as long as Discord keeps hosting it.  I don't know how that works.

[McTraveller]

Someone with more skill than I needs to make a Bernie meme out of this somehow.

[Naturegirl1999]

Agreed. Also what even happened with GameStop? In the Bone Sone, the others were talking about Reddit having something to do with it, but I don’t know what Reddit did

[hector13]

Reddit wanted to break the boomers money by presumably increasing the value of a company that hedge funds tend to short. This caused fund managers who have less fortitude to also start buying the shorter stocks in order to cut their losses, further increasing the value and causing a spiral of increasing value and short sellers cutting their losses by buying the stock.

Apparently the price of GameStop shares have increase 300% per the last few days.

Edit: even more than that apparently.

Anyway, the term for it is short squeeze.

[da_nang]

Someone is really mad at WallStreetBets. So much influx of traffic (presumably bots) they had to set the subreddit to private.

EDIT: And their Discord server was banned too.

[Iduno]

I think this works, right?  At least as long as Discord keeps hosting it.  I don't know how that works.

Yeah, I see the thing.

[methylatedspirit]

Someone is really mad at WallStreetBets. So much influx of traffic (presumably bots) they had to set the subreddit to private.

EDIT: And their Discord server was banned too.

You know they're just gonna move to IRC or 4chan or whatever that's now cool with the kids, yeah? Between them, I'm sure that they should be rich enough to host (or buy) a nice server that can handle the traffic of WallStreetBets on a domain host that doesn't give a shit.