In this article, we will walk you through, "What Is Wall Street Bets? What Are They Doing To The Market?" Let's get started.
What Is Wall Street Bets?
WallStreetBets is actually “r/wallstreetbets” and it's a forum or “subreddit” on the popular website Reddit, which is a social platform and discussion group that also rates web content.
In short, it's a group of people that enjoy discussing investing, frequently speculative investing. Given that it is on Reddit, it is presented in the typical Reddit-house manner, which frequently contains profanity, irony, and a ton of memes.
Users are typically normal people who engage in trading and speculating, but on rare occasions, they have identified and taken advantage of critical flaws in Wall Street or financial products.
What Are They Doing To The Market?
Wall Street Bets doesn't have a formal structure or leader, but when a strong case is made, the group will occasionally agree. Wild things can occur when it occurs in relation to a stock that has a lesser market cap.
For example, their activity and influence can be enough for shares of bankrupt companies like Hertz (HTZ) to spike, which actually led the company to try to issue new stock in 2020 even though it was bankrupt and “technically” worthless.
Recently, the group has caused a handful of companies' stocks to spike, most notably GameStop.
What Is Wall Street Bets? What Are They Doing To The Market? - Hopefully, this article can help you to get some knowledge.
