This story is available exclusively to Business Insider subscribers.The Reddit-fueled trading phenomenon lifting GameStop, AMC, and other stocks is backed by populist sentiments.
Some market commentators argue that the sudden spike in flash rallies, which have spread to a wide range of other securities around the world, is an internet prank gone viral. Others see it as a dubious, get-rich-quick scheme cooked up by more experienced investors in the forum. For Wall Street Bets, profit is no longer everything. It's about sticking it to the establishment and proving they're a force to be taken seriously.Last summer's boom in retail trading — combined with the onset of the global pandemic — gave Wall Street Bets the collective resources it needed to hit Wall Street institutions where it hurts most.
Momentum trades are commonplace in the stock market. But GameStop's climb snowballed at a pace that has left big investors struggling to catch up — signaling what may be a bigger, internet-driven disruption in the way Wall Street does business.
Haha when wall street aficionado's immediately start screaming 'Socialist movement' you know they are just scared and are trying to end the onslaught that thousands of seperate people who don't know each other and never will are simply seeing profit and jumping in too!!! Bye 😁👋
Great let them live like the rest of US. NOMORENITWITS onelove
Fear and greed
Populism its Freedom
hey wall street put their rules and now they have to aby by it. if they loose so be it. that is how the market works. closing exchanges is cheating.
'It's a populist movement' 😆
They played with the rules to shock wall St. which they can't digest 😂
😎
Is simply market abuse and SEC must investigate it, the public trust on market must be preserved. The stock market is not only for traders many workers use it for its pension fund.
Steal is wrong when it's not you stealing...
Which hedge funda own you ? Be honest 🤮😂
Reddit was able to centralize a group of people in one direction. Centralization is a powerful thing for a group or a country. It matters who the leaders are tho. Leaders should represents the ideals even while not flawless.
Save Robinhood!! They did nothing wrong. The Wall Street should admit they lost the battle this time (money game)😝
It's beautiful.
In a short period of time all traders who bought at a high price above 100 $ will start crying...
good
wallstreetsbets What would you suggest about the Fed?
Spot on.