The language used on posts in the community can be crude and boorish - they describe themselves as 'autists' and proudly exclaim how little they know about the market. The spikes follow a targeted wave of enthusiasm aiming to boost the stock valuations from members of the subreddit r/wallstreetbets.įor many, the GameStop rally might be the first time they've heard of the community, but r/wallstreetbets is actually a relatively old subreddit with deep ties to internet culture. For stockbrokers and traders, these massive price hikes seem like an anomaly - but those plugged into the online forum Reddit aren't shocked. Over the past week, stocks in GameStop, AMC theaters, and a multitude of other seemingly fading companies have soared in value.
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