“Reddit Invokes The Streisand Effect to Openly Invite r/WallStreetBets to Wreak Havoc on Their Stock Price.”
I think they’re trying to get the SEC to solve their problems for them. I wonder how careful the WSB/Stonkers can be.
Maybe I’m just dumb, but what could the SEC actually do?
Accuse them of stock market manipulation, which is exactly what the hedge fund guys do constantly. But since the Reddit kids aren’t hedged managers with $100millions, they’ll get sucked.
I used to fucking hate that sub in my feed, but god bless those cappy swine
My sentiments exactly. The enemy of my enemy is my friend, as annoying as they can be. Now that I’m not using reddit I wish them the best of luck wreaking havoc.
💎💎💎🚀🚀🚀 …………………………………………… lol, couldn’t resist
Apes together strong
🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍
Edit: 🦍
I’m still holding AMC and GME, did I miss the squeeze?!
Does form an interesting premise though for a collectivist tool of anticapitalist warfare.
Firms taking short positions are some of the most low down parts of the stock and trade system, so you could cost the parasites millions and billions by organizing mass buys of stock on firms with shorted stock, and the best part is that the folks holding shorted positions can lose infinitely, so basically enough people working together would be able to pull the equivalent of stringing the leaches up by their nutsack and then dragging them around by it on a gravel pathway by horseback
Only to people that don’t realize stockbrokers are the house in the casino that is stock trading.
They’re legally allowed to turn off the buy button if the retail buyers try to do this.
I mean its a midoff. And at that point fuck it crack a beer or tea or something
I feel like this is just Reddit asking for the sub to inflate the stock like they did GameStop.
Shorts apply downward pressure to the market price, so not sure how well thought out the plan is.
they’re counting on it
Like Musk with Dogecoin.
Lol in the article it says ppls proposed shotlrting Reddit stock. I love some of those apes so much, they got great ideas.
I hope they short it into oblivion and make all the tendies in the world.
Most you can short it in a day is 10 percent right? I dunno if they’re disciplined enough.
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I’m not knowledgeable about it for sure, it just seems rather next to impossible to tank an IPO with borrowed shares alone.
I’m retard.
What actually happened to the gamestop thing. Did the government end up getting involved and shutting it down? There was some shady shit going on for a while.
How would reddit even tank the price? Shorting is just a way for them to lose money if they are wrong.
Short selling is used when you expect a stock to drop in price. You “borrow” a stock from someone and immediately sell it for the current price. You have an agreement to return the borrowed stock to them within [x] time. So let’s say you borrow the stock and sell it for a nice even $100.
But you’re expecting the stock price to drop significantly. So when it drops to $60, you’ve now made $40. Because you sold it for $100 and now you can buy it at $60 to return it to the lender. If the price has dropped, you make money because you keep the difference between your sale price and your purchase price.
The issue with this is that your potential for loss is technically unlimited. If the price never drops, you never make money. Or even worse, if it increases, you stand to lose money. And since there’s no price cap on stocks, you can theoretically lose an unlimited amount. Since you’re legally obligated to return that stock to the person you borrowed it from, you can be forced into buying the stock for exorbitant prices if it increases.
The GameStop thing was caused by something called a short squeeze. Basically, a bunch of people expected the stock to drop, so they were all shorting it. Someone realized this, posted about it, and people started buying up all the available stock and refusing to sell. Now all of those people who had sold the stock and were hoping to buy it back cheap found that there was nobody to buy it from.
They increased their offer price. Still nobody to buy it from. They increased the offer again. Still nobody to buy it from. And as more shorts matured and more people were legally obligated to buy the stock, the more the price increased. It’s a simple supply and demand calculation: The demand was rapidly increasing as more people were legally obligated to return the stocks they had borrowed, and the supply had suddenly evaporated because people were outright refusing to sell. And this has a cascading effect, as people see the price spiking and refuse to sell because they expect it to continue to climb. This is where all the “to the moon” and rocket memes came from, because stock owners planned to hold until the price made it all the way to the moon.
Some vendors like Robinhood stopped allowing people to buy GameStop stock. The idea was that it would limit the shorters’ potential losses, by keeping the dwindling supply from being completely bought out. The hope was that once people were banned from buying more, they would begin to sell. But this only pissed a lot of people off, because it was a blatant attempt at manipulating the market. It was a blatant shield for the trust funds who had historically had a stranglehold on the markets. It was seen as the rich helping the rich, because that’s exactly what it was.
Amazing explanation, thanks!
So where are we at currently?
Yeah, I remember watching all of this live, but that was years ago. Then wsb started posting nothing but tweets by some Cohen guy and that’s where I lost all interest.
I’m kinda assuming the whole thing blew over and nobody had to face any consequences at all, because reality sucks, and because any win for the wsb folks would be repeated by them everywhere ad nauseam.
Shady shit did go down but a lot of money was moved from the wealthy to the not as wealthy. I don’t think the government did anything except interview a few of the major players.
Every once in a while you’ll see a fancy car with a license plate that references gme, mooning, or wsb.
I hope they short it into the sub-basement. I hate those twats, especially when I modded /r/amc, but I might just have to cheer for them if they can snowball the Reddit IPO. It would be spectacular.
Was about to comment basically the same thing. They are ableist morons who are poster children for the Dunning-Kruger effect with their YOLOing and HODLing and whatnot, but them fucking over spez would make my god damned decade and I’d raise a glass to those cunts.
I bet theyre all gonna short Reddit.
Which is funny, because considering Reddit was trying to get users to buy in on their IPO, they probably thought they could weaponize the whole “diamond hands” meme again, and get everyone to shoot reddits “stonks” “to the moon!”
They’ve always been behind the curve, from the crypto that never launched to the NFT avatars to the streaming stuff to the IPO now being laughably belated.
I actually got the Reddit IPO invite. Hard pass.
Oh no. Well anyways how is everyone’s Friday going?
Let’s fucking hope.
I’m surprised (but not upset) that WSB hasn’t set up a dedicated Lemmy server. Surely they must think they’ve grown big enough to not need reddit anymore.
they’ve probably got a dIsCOrD sErVEr
All markets are on the whim of the people, if tomorrow everyone decided Exon Mobile wasnt worth it and we’re all selling the price would tank.
Its just bad luck for Reddit, everyone thinks Reddit isnt worth shit
I don’t know if it’s bad luck. They’ve made some decisions to remind us that it’s worthless.
Heck, if Apollo for Reddit still worked, I’d probably still use it daily.
If Apollo for Reddit still worked, I’d probably still be there too. But at the same time I’m pretty thankful that things happened the way they did because it really opened my eyes to how dissatisfied I was with corporate social media and I feel so much more engaged in my hobbies and their communities now on the fediverse.
It helps that I am already primarily interested in tech, web, and networking (with some retro gaming mixed in) so the fediverse was already a suitable replacement. I feel for people whose communities are dead here.
Infinity and stealth for Reddit still works, but kinda wonky probably because api limits
I prefer Reddit today. If Reddit suddenly disappears, I will simply switch to Lemmy full time. 💀
So I really don’t care what happens to Reddit.
Tank it!
To the shitter! 💸🚀🚽
“Could”. I’m sure it’s a fucken certainty.
how do I trade to inflict maximum economic damage on reddit?
Don’t talk about it, but it, or post about it ever and it will go away
almost you shouldn’t place cheeky little bets on if a company will succeed or not. bet on sports like a normal person. shareholders ruin every single company
Nikola shorts profited from the company being a scam and being exposed. They did a useful service by driving the price down.
Stfu regard
