The most requested community in the past week: WallstreetBets
We've been following the situation, not wanting to release a WSB community without having their mods onboard. Well, we still don't have their mods on board. We talked to them in mid-2020, but never came to an agreement.
We hope that they don't get banned from Reddit (we'd pick up a good portion of that traffic, so don't do it, Steve.)
Having said that... the WSB Discord server just got banned (for hate, by the way), and it's very possible that the subreddit suffers the same fate...
Our unofficial WSB Win site:
https://wsbets.win/ or c/wsbets
We've had some well known WSB users reach out asking for us to set this up, and even some people who have been involved in the running of WSB, but to be very clear, this is NOT officially affiliated with the WSB subreddit (but we'll hand it over to them when they want it)
Update: WSB is NOT banned on Reddit. It's private, which is normally a decision by the moderators.
That’s utter nonsense.
Betting that obsolete companies will die has been part of the stock market for ages. Trying to create a pyramid scheme, where most of the investors will lose everything and the billionaire Chewy.com founder will make even more billions, is NOT making a statement.
Frankly it’s one of the dumbest fucking things ever.
Cue the crying when all these morons that “invested” their rent money lose it all. They’re already crying when brokers halted trading (which again is standard practice).
Shorting a stock at 140% of available shares is most certainly not part of the stock market. Naked shorting is in fact illegal, but is effective at driving the "obsolete" company's stock so low that they can potentially bankrupt the company outright.
Frankly, you just sound like a butt hurt boomer who is annoyed that young investors found a hole in the game and are now exploiting it in the same manner that the hedge funds do on a regular basis.
No I’m a millennial but work in finance 15 years.
They’re exploiting nothing and the majority of people in this shitstorm of stupidity will lose money. Probably all that they “invested”. I personally don’t give a fuck, it is quite entertaining in fact.
The chewy guy will make billions, citadel, Virtu, tower, and other HFTs will make billions, and the pension funds that invested in Melvin will lose. So uh yeah, I guess that’s sticking it to the rich?
Oh yeah and DFV will end up most likely prosecuted by the SEC.
Think people are pissed now? That guy is a hero to these people and did nothing wrong. If the suits come after him people will fight back.