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Reddit’s profane, greedy traders are shaking up the stock market

bloomberg.com

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Re: Reddit’s profane, greedy traders are shaking up the stock market

#11

Post by ashleyn »

Spellman wrote: post #3
gruez wrote: post #2

Wait, people actually go to /r/wsb for investment advice? The entire time I thought it was a mix of posting wins/losses along with some memes/humor.

While it's mostly for jokes, it's also hit r/all enough times and has enough subs that if the sub jumps on a particular meme stock, they are enough to actually make it move. So, it's somewhat ironically become a way to coordinate purchase/selling of a stock by getting enough of the hivemind to go along with a particular stock. It's still a terrible place for general advice though.

So...a pump and dump then.

Re: Reddit’s profane, greedy traders are shaking up the stock market

#12

Post by xxpor »

ashleyn wrote: post #11
Spellman wrote: post #3

Earlier quoted context omitted.

While it's mostly for jokes, it's also hit r/all enough times and has enough subs that if the sub jumps on a particular meme stock, they are enough to actually make it move. So, it's somewhat ironically become a way to coordinate purchase/selling of a stock by getting enough of the hivemind to go along with a particular stock. It's still a terrible place for general advice though.

So...a pump and dump then.

Is a pump and dump illegal if everyone's in on the joke though?

Re: Reddit’s profane, greedy traders are shaking up the stock market

#14

Post by TACIXAT »

svnpenn wrote: post #7
thih9 wrote: post #6

> You're in private mode. Subscribe to continue reading in private mode. I didn't realise that Bloomberg blocks private mode too. Messages like this assume that tracking is the default and make sure that we keep losing privacy. I really dislike this trend.

I didnt get that, I tried with Firefox 72. Note I am also using uBO 1.25.0.

FF 73 and uBO 1.24.4 I still get it in a private window.

Re: Reddit’s profane, greedy traders are shaking up the stock market

#15

Post by Spellman »

ashleyn wrote: post #11
Spellman wrote: post #3

Earlier quoted context omitted.

While it's mostly for jokes, it's also hit r/all enough times and has enough subs that if the sub jumps on a particular meme stock, they are enough to actually make it move. So, it's somewhat ironically become a way to coordinate purchase/selling of a stock by getting enough of the hivemind to go along with a particular stock. It's still a terrible place for general advice though.

So...a pump and dump then.

I mean, there are definitely those who are trying to exploit r/WSB to do that I'm sure.

But at the same time, it's not like there's defacto leaders. It's more once the zeitgeist takes hold mobs of people will, for whatever reason, follow along.

I'm sure there are a lot of very smart people trying to figure out how to weaponize this and have their positions locked in before the mobs move the market and time their exits.

Re: Reddit’s profane, greedy traders are shaking up the stock market

#16

Post by gruez »

nitwit005 wrote: post #9
gruez wrote: post #2

Wait, people actually go to /r/wsb for investment advice? The entire time I thought it was a mix of posting wins/losses along with some memes/humor.

Even if they don't take it too seriously, I'm sure people pick up ideas there. If you see people talking about buying Tesla options every day, you'll probably consider it far more than you would otherwise.

You'd think that the screenshots of horrific losses on robinhood, interspersed throughout would have a moderating effect. That, along with the obviously sarcastic investment advice and general crude language makes anything coming out of there less trustworthy than something like Mad Money on CNBC.

Re: Reddit’s profane, greedy traders are shaking up the stock market

#17

Post by gruez »

xxpor wrote: post #12
ashleyn wrote: post #11

Earlier quoted context omitted.

So...a pump and dump then.

Is a pump and dump illegal if everyone's in on the joke though?

I don't think the SEC would buy that excuse. Even on thinly traded stocks there's going to be volume from non /r/wsb participants.

Re: Reddit’s profane, greedy traders are shaking up the stock market

#18

Post by judge2020 »

thih9 wrote: post #6

> You're in private mode. Subscribe to continue reading in private mode. I didn't realise that Bloomberg blocks private mode too. Messages like this assume that tracking is the default and make sure that we keep losing privacy. I really dislike this trend.

Even happening with a second Chrome profile, so it might be more heuristic-based than the previous tricks[0].

https://news.ycombinator.com/item?id=20670596

Re: Reddit’s profane, greedy traders are shaking up the stock market

#19

Post by rapsey »

outworlder wrote: post #4
gruez wrote: post #2

Wait, people actually go to /r/wsb for investment advice? The entire time I thought it was a mix of posting wins/losses along with some memes/humor.

It is exactly that. Sometimes there's actual, solid, investment advice hidden in posts. Sometimes.

Wsb is in the honey moon stage of a subreddit where you find a ton of amazing humor and and an occasional deeply insightful comment.

Re: Reddit’s profane, greedy traders are shaking up the stock market

#20

Post by toohotatopic »

thih9 wrote: post #6

> You're in private mode. Subscribe to continue reading in private mode. I didn't realise that Bloomberg blocks private mode too. Messages like this assume that tracking is the default and make sure that we keep losing privacy. I really dislike this trend.

Why is that behavior in agreement with GDPR? Don't they have to provide their information without people having to share private data?
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