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In this article, we discuss the 10 stocks Reddit's WallStreetBets is buying before earnings. If you want to skip our detailed analysis of these stocks, go directly to the 5 Stocks Reddit's WallStreetBets is Buying Before Earnings.

The United States economy has roared back into life over the past few months after a torrid 2020 marred by COVID-19 lockdowns. Just before the US government released GDP figures that showed that the economy had grown beyond the pre-pandemic size, data released by Refinitiv, a financial market data and infrastructure firm, indicated that the largest companies in the country, often represented by the S&P 500 Index, were on track to smash market expectations on earnings for the second quarter.

According to the data research firm, the S&P 500 Index was actually set for the biggest quarterly earnings growth in more than a decade. In the days since the data was released, more than 120 companies on the index have released earnings results for the second quarter. A whopping 88% have beaten market estimates. As more firms prepare to release earnings reports, retail investors, who frequent internet platforms like Reddit, have started loading up stocks that are expected to soar following the release of their quarterly earnings.

Some of the stocks presently popular on the 10-million strong Reddit platform WallStreetBets include Activision Blizzard, Inc. (NASDAQ: ATVI), Match Group, Inc. (NASDAQ: MTCH), Lyft, Inc. (NASDAQ:

Sours: https://finance.yahoo.com/news/10-stocks-reddit-wallstreetbets-buying-194700282.html

How AMC and GameStop became Reddit faves

BlackBerry. AMC. Nokia. GameStop. This quartet, along with others such as insurance startup Clover Health, mobile shopping app developer ContextLogic and fast food chain Wendy's, have become darlings of the Reddit crowd.
So why do some stocks go from being unloved on Wall Street to diehard favorites of the Reddit army?
What all these stocks have in common is that a fair number of short sellers are betting against them.
And that riles the passions of the Reddit crowd, many of whom view short-selling -— when an investor borrows a stock and sells it with hopes of buying it back at a lower price and pocketing the difference as a profit — as a rigged part of the investing game designed to benefit fat cat hedge funds.
The Reddit crew is looking for underdogs that Wall Street pros think are relics: BlackBerry(BB) and Nokia(NOK) got left behind when everybody started buying iPhones and Androids, while AMC(AMC) and GameStop(GME) have both been hit hard by the pandemic, plus shifts in how people watch movies and play video games.
"Shorts have some tricks for us today. But today we set it up," wrote one Redditor on Thursday about AMC, GameStop and Tilray(TLRY), a cannabis company that is also heavily shorted. "We battle the shorts. We stay strong; Monday we'll be in orbit and complete control."

'Squeezing' the life out of hedge funds

The term "meme stock" may sometimes be used pejoratively, but the fact is Reddit investors are sophisticated enough to realize that by targeting stocks that are heavily shorted and don't have a sizable amount of shares available for trading, there's a chance to help fuel what's known as a short squeeze.
A squeeze takes place when short-sellers have to rush to repurchase shares they borrowed because the price is rising.
The higher a shorted stock goes, the more money the short-seller stands to lose. So they have to often quickly buy the stock back to avoid losing their shirts — thus pushing the price even higher.
AMC shares soar to an all-time high
AMC shares soar to an all-time high02:27
If a short-seller borrows a stock trading at $50 and sells it but the stock then climbs to $75, that's a $25 loss. If it goes to $100, the short is $50 in the red, and so on. They want to get out quickly to reduce their losses, and that creates the squeeze.
"This is the perfect storm for an epic short squeeze: the mother of all short squeezes," said one Reddit user about AMC on Thursday. The poster even went on to declare that AMC is the "safest bet" on Wall Street — and emphasized that by using several rocket emojis.
Of course, AMC is not a "safe" stock per se. A lot can go wrong with the reopening of the economy. And even if things go smoothly, some argue the shares, which are now up more than 2,000% already in 2021, could eventually cool off.
Still, investors who bet against the meme stocks need to realize that the so-called apes, a term that many investors on Reddit use to describe themselves, are playing the long game. They are not necessarily looking to always cash in after making a quick buck.
"We are in this for the long haul," said one Reddit user in a post about GameStop, BlackBerry, AMC and ContextLogic, adding that the stocks are "absolutely primed for a squeeze."
The support of the Reddit crowd is grabbing attention from the meme stocks' management teams, too.
Clover Health CEO Vivek Garipalli gave them a shoutout on the company's earnings call with analysts last month: "We are also including some questions from the strong community of Clover investors on Reddit. As a quick aside, we are a big believer in the retail investor community."
AMC has even launched a rewards program for loyal retail investors.
"I'm quite optimistic about the new shareholder base of AMC," said AMC CEO Adam Aron on its earnings call last month. "Just go on Twitter, just go on Reddit, just go on YouTube. Read what these people write. They love AMC."
"These are not people who are just going to be investors in AMC. These are going to be customers of AMC who come to our theaters and enjoy watching movies at our theaters as paying guests," he added. "So I love the idea that we have a passionate, committed, enthusiastic shareholder base."
Meanwhile, not all Reddit-approved stocks are wrapped up in a battle between retail investor longs and hedge fund short sellers. Just look at Wendy's(WEN). Hedge fund Trian, run by Nelson Peltz, is the top shareholder.
So it seems the key to finding a stock primed for a Reddit bump is to identify companies that don't have a lot of shares available for trading. It's easy to propel those stocks higher.
That was the case with Wendy's earlier this week, as one Reddit user noted that "frenzy+scarcity+low volume means minimal buys could push the price quickly."
Sours: https://edition.cnn.com/2021/06/10/investing/reddit-stocks-amc-gamestop/index.html
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Inside the Reddit army that's crushing Wall Street

 By lunchtime, the stock options Omar had bought were down around $7,000 from their peak.

 Omar knew he should probably sell the options before they became worthless. But he followed the mantra of the place where he'd first learned about options trading, the subreddit r/wallstreetbets, and held on.

"It was diamond hands," said Omar, using the site's term for holding an option even after incurring extreme losses or gains. "It was like, all or nothing."

 Within two days Omar had lost not only his gains but his entire initial investment. 

 Desperate to earn it back, Omar, 23 years old and the child of working-class immigrant parents, took the rest of the money he could scrounge up — cash from his tutoring gig, his stimulus check, a chunk of his freshly-deposited student loans that was supposed to pay for his living expenses (which were basically non-existent after he had moved home during the Covid-19 outbreak) — and poured all of it, $22,000, into his Robinhood account. Then he opened up WallStreetBets.

 "I was really scared," Omar told CNN Business in an interview in August. "All I wanted to do was just make my initial money back and pay it off."

 By the end of the week, he had lost it all again.

 Omar, who spoke on the condition that he be referred to using a pseudonym out of concern over the legality of trading with money from his student loans, said that he blames himself for his losses but regrets ever stumbling upon one of Reddit's most active communities.

 "I would not have traded options," Omar admitted, "if I had not found WallStreetBets."

This January, with WallStreetBets now an inescapable presence, Omar was back on the board. Back to trading.

Stock market meets internet fringe culture

This past week has been a banner one for Reddit's island of misfit investors.

WallStreetBets exploded into the mainstream, moving from the front page of Reddit to the front page of the New York Times and nearly every other major news site. The subreddit's short-squeeze of GameStop helped shoot up the price of the video game retailer's stock a mind-boggling 1,700% from the beginning of January to Wednesday (before it fell again Thursday), captivating the minds and wallets of investors — both casual and institutional — and financial regulators.

But while millions are now discovering WallStreetBets for the first time, it has been building momentum throughout the pandemic. One can trace its epic rise to a perfect storm of favorable conditions: the exponential growth of the app Robinhood and its no-fee options trading, the extreme volatility Covid-19 brought to the markets, the stimulus checks mailed to millions of Americans, the lack of televised sports for much of the year, and the unwanted free time stuck at home the pandemic has forced on many people.

Describing itself as if "4chan found a Bloomberg terminal," the forum's giddy nihilism, inscrutable language and memes fueled a war on a perceived corrupted mainstream.

And it's led WallStreetBets' evolution into an unprecedented force of retail-investing financial radicalism, offering the allure of get-rich-quick gains to a rapidly expanding audience of millions. (5, at last count).

Many celebrated WallStreetBets' war on GameStop short-sellers as a populist campaign against hedge-fund raiders looking to profit off the destruction of a well-known retail brand like GameStop. But unlike many other similar online communities, there is also a clear financial goal for the people in it.

"It's a means to an end," explained one of them, AJ Vanover.

At his retail job in a battery store in Missouri, Vanover makes around $35,000 a year. But on Wednesday, he found himself a paper millionaire. (His Robinhood account exceeded $1 million, according to screenshots he provided, but he hadn't cashed out yet). For months, Vanover had been following GameStop as a "value play," posting his thoughts on WallStreetBets along the way.

This Missouri dad makes $35k. Now his GameStop shares are worth over a million

02:22

This week, Vanover was off from work, quarantining after a coworker contracted Covid-19, but now thinks he won't return to his old job. "I know I'm going to do two-weeks' notice," he said with a nervous laugh. "So, I'll be nice about it.' Vanover said he plans help his parents with their mortgage, and he intends to keep investing in options.

 'These guys can move markets'

Enter WallStreetBets for the first time and you'll almost certainly be a bit lost.

The forum's language can be difficult to understand, even for someone who knows typical Wall Street jargon. The vocabulary specific to the subreddit is extensive, and it will almost never be explained to a newbie earnestly asking for a term's definition. Posters revel in their crudeness; homophobic epithets are tossed around as terms of affection.

The site is a chaotic mix of memes, screengrabs of wild losses and gains, the occasional "deep dive" into a stock, all unified under the guiding principle of betting as much money as you possibly can on the highest possible risks, generally short-term options trading. Trading individual stocks, as opposed to options, is generally taboo. There's r/investing for you right down the corner, thank you very much.

But fringe online movements have shown that internet culture can lead to extreme behaviors, making radical ideas palatable for people raised on memes and 4chan in a way that they likely wouldn't be, at least at first, if presented in a straightforward manner. In the case of WallStreetBets that extremism has a real financial impact.

"These guys can move markets," said Jeremy Blackburn, an assistant professor of computer science at Binghamton University who studies extremist communities on the web.

"That's a huge deal."

Lana Swartz, assistant professor of media studies at the University of Virginia, describes the subreddit's financial spin on the kind of nihilism seen on 4chan as the idea that its users should have a "relaxed" relationship with their money. She characterized the spirit this way: "Let it come. Let it go. Because the kind of secret that the elites know is that money is. B.S., and only by knowing that money is B.S. can you accumulate a lot of it, which should be your goal."

That ethos on WallStreetBets not only encourages risky trades, but also trading the entirety of your net worth or portfolio in a single risky trade — a financial move that would be sure to make any certified financial advisor bleed from their ears.  

"It's not even the ends that matter. It's the means. It's the fact that you're placing this bet, that's where the value in all this is. Sure, you may get money, or you may end up broke, but you played the game, and you did it in some crazy way," Blackburn said.

"It is a little bit scary, though, right? Because this is real money. And any time you are more interested in the game than the outcome, that can be incredibly dangerous."

4Chan meets a Bloomberg terminal

WallStreetBets has long described itself as "4chan with a Bloomberg terminal."

Look closer at communities like 4chan or 8kun, and WallStreetBets, and it's not just a shared use of memes that link them.

One key element to 4chan is its opposition to mainstream "normie" culture, an idea that has broad applicability. For many on 4chan, normie culture is the popular kids in your high school. For WallStreetBets, the normie culture it stands in opposition to is one of "safe" mainstream investing: focusing on long-term gains, maxing out your 401(k)s, buying index funds; Suze Orman 101. "Boomer" advice, as users say.

On WallStreetBets, that's all depicted as a sucker's game.

"They don't want to wait 20 years for their bets to pay off," Blackburn said.

Swartz sees the cynicism surrounding long-term investment advice on WallStreetBets as an understandable reaction for a young generation that has witnessed two economic crises, the chaos of the Trump years, ever-growing inequality and the looming threat of catastrophic climate change.

"We're living in a time of absolutely unprecedented uncertainty," she said. "There really is no reason for anyone in their twenties to imagine that their 401(k) is going to pay off in 50, 60 years the way it did for their parents. And I'm not saying they shouldn't believe it. I'm just saying they have good reason not to."

The specter of the 2008 financial crisis, in particular, looms large over the community.

"I was in my early teens during the '08 crisis," wrote one user going by the handle ssauronn in a recent post celebrating the site's apparent (albeit potentially fleeting) victory over hedge fund Melvin Capital, which, according to CNBC, closed out its position in GameStop this week after taking a huge loss. "When that crisis hit our family, we were able to keep our little house, but we lived off of pancake mix, and powdered milk, and beans and rice for a year."

"Stop listening to the media that's making us out to be market destroyers, and start rooting for us, because we have a once in a lifetime opportunity to punish the sort of people who caused so much pain and stress a decade ago, and we're taking that opportunity."

You can also spot a shared nihilism between 4chan and WallStreetBets in their casual and ironic references to suicide. On WallStreetBets, longing "$ROPE" is an inside joke for suicide, one that is almost always posted under a disastrous loss.

4chan, 8kun and WallStreetBets exalt a cartoonish version of autism both ironically and sincerely — "autists" is a term of pride on both sites — as a superpower of persistence that allows one to fully commit to a worldview leagues apart from the stifling conventional wisdom of the mainstream.

For political extremists a so-called "autist's" powers can be a weapon to be deployed against enemies in destructive doxxing and harassment campaigns. At WallStreetBets, an "autist's" power is displayed by committing to a trade with "diamond hands," holding on and refusing to sell even after incurring extreme losses or gains with the goal of attaining ultimate profit.

However, there are key differences between WallStreetBets and sites like 4chan.

Unlike other fringe groups, WallStreetBets generally hasn't doxxed its enemies, or brigaded others (when one subreddit aggressively posts on a rival subreddit), and while it has a long-standing rivalry with the staid r/investing — a subreddit so committed to its ideals of modesty and risk avoidance that it shuns individual stock picks — StockJock-e, a moderator for r/investing, politely downplayed the beef, calling it "facetious and exaggerated" in a message to CNN Business.

To Blackburn, who has focused his studies on toxic internet behaviors ("a**holes are my expertise," he said), WallStreetBets is — by the low standards set by others — a relatively well-behaved online community. "It's kind of not a bad behaving sub," said Blackburn.

"Minus the fact that people are getting wrecked money-wise." 

Making the big kill

To understand how risky the trading strategies employed on WallStreetBets are, it's key to understand just how options trading works.

Instead of buying a stock, an options contract allows an investor to purchase the option of buying 100 shares of a stock at a set price in the future. As the expiration date of the contact draws closer, the valuation of the contract can swing rapidly, as it will become worthless to the buyer if it doesn't hit its target price.

While options trading is risky — if you bet wrong you can be stuck with a literally worthless asset — it also allows for leveraged bets. The shorter the expiration date of an options contact, the riskier and more volatile it becomes.

"The nature of stock options convinces people to take a thousand dollars and turn it into a hundred thousand or in some cases, one million dollars," said Jaime Rogozinski, who founded WallStreetBets in 2012 but was removed from the site by Reddit in April 2020. (Reddit says he was removed for profiting off the WallStreetBets brand, a claim he denies.) "You don't feel bad for the person when they lose the thousand dollars."

WallStreetBets rise hasn't happened in a vacuum; it coincides with a broader boom in retail options trading.

"Retail option volumes are completely off the charts," said hedge funder Benn Eifert of QVR Advisors, who described the volume as being "multiples of any prior record that we've ever seen."

Aided by Robinhood, which revolutionized the ease and cost of trading options — and which reportedly profits more from them than regular stock trades — retail investors only have to answer a few short questions to gain access to a volatile world. (Although Robinhood makes this process easy, it cautions that options trading "entails significant risk and is not appropriate for all investors.")

But if options trading is risky, and short-term options ("F.D's," short for "F****ts Delight" in WallStreetBets' casually-flung homophobic lingo) are the single riskiest type of options, putting your entire life savings ("YOLOing") into a short-term option is, from any "rational" financial perspective, complete madness.

It's also so common on WallStreetBets that YOLOing has its own flair or tag, allowing you to search through the many, manypeople posting their life-savings-and-all trades.

"Generally, this kind of behavior tends to result in a loss of most or all of the money of the people involved," said Eifert.

But of course, high-risk trades come with the tantalizing possibility of high rewards — rewards that inevitably find themselves on the front page of WallStreetBets.

Minhajul, 22, is a college student and part-time pharmacist, born in Bangladesh and raised in Queens, New York, who decided to put his stimulus check into Robinhood after seeing what he described as "insane" and "crazy" gains posted on WallStreetBets. Buying weekly options trades and reinvesting the entirety of his gains with each successful trade, Minhajul managed to spin his initial $1,200 investment into $280,000 in a delirious two-week period towards the end of July.

"I'm like, 'Holy sh**... I'm rich,'" Minhajul, who did not want his full name printed, recalled in an interview.

On the night of July 30th, Minhajul couldn't sleep — the possibilities now afforded to him by his newfound riches kept swimming his head: a new car, even a new house. But the next morning Minhajul found himself exhausted and passed out for a mid-morning nap. When he woke up, his portfolio had bled $220,000. By the end of the week, he was down to $8,000.

Minhajul said he was unfazed by the loss of his unrealized potential gains — to him he was playing with house money anyway — but others aren't so lucky.

Loss porn and other rituals

Click on WallStreetBets' extensive (and always expanding) "loss" section, and you'll witness each of the five stages of grief warped through a funhouse mirror of online ironic detachment.

"Loss porn" is a staple on the site, one with its own rituals. One is expected to post their losses (or gains) with their positions and then face the peanut gallery. 

Rubbing salt in the wounds is common ("Does your sell button not work?"), as are crude comments about one's "wife's boyfriend." Less prevalent, but still notable, are the genuine words of encouragement when one's despair appears profound enough. 

"Lot of people asking if I'm okay. Honestly, not really. It's going to take a long time to recover financially, and maybe even longer emotionally, knowing how much damage I've done to my own life in more ways than just the money," said one Reddit user who claimed to have lost $28,000. 

"Your d*** still works...You'll feel like s**t for a while, rightfully so, but set yourself a small goal and go achieve it," counseled another. 

Scroll around Wallstreetbets long enough and you'll inevitably find those in the throes of what can only be seen as a possible gambling addiction. 

One Reddit user posted a screenshot of a $134,000 loss titled "YOLO is a hell of a drug! Farewell boys," describing themselves as a healthcare worker who had gambled away years of savings on YOLO trades. In the comments on their farewell post, they described the mindset that led them from being a "rational investor" to gambling their life savings on options trades. 

"I just [wanted to] break even. If I break even I'll stop. And you never do. Overly aggressive, over margined YOLO plays after that. I study and stared at the charts every trading day in day trading grandeur, thinking my probability has increased that much more from my first big win... Desperate option plays at the end."

"I went from a rational investor to some sick irrational desperate gambler."

Weeks after their "farewell," they were back on the site. 

"No emergency fund. No retirement," they wrote. "And lost my last check on a credit spread."

A massive new audience

WallStreetBets' burst into the mainstream has left it in uncharted territory.

There are the legal questions surrounding the site's collective push to boost GameStop's shares, with the SEC announcing in a statement that it is "aware of and actively monitoring" the volatility of the markets.

The White House and newly sworn-in Treasury Secretary Janet Yellen are "monitoring" GameStop's stock bonanza and WallStreetBets briefly went private on Wednesday, as the moderators made the site private to "ensure Reddit's content policy and the WSB rules are enforceable." On Thursday, Robinhood, the trading platform of choice on WallStreetBets, made a controversial move to limit trading on GameStop, AMC, Nokia and other stocks promoted on the subreddit.

Reddit said in a statement to CNN Business that its "site-wide policies prohibit posting illegal content or soliciting or facilitating illegal transactions. We will review and cooperate with valid law enforcement investigations or actions as needed." 

And even if the forum survives scrutiny — whether regulatory, legal or from Reddit — it will have another issue to contend with. When part of the draw of a place online is the community, the shared language and jokes and memes, what happens when new people unfamiliar with any of that come suddenly flooding in? 

With WallStreetBets' campaign against Melvin Capital now gracing the front pages of newspapers, those who have been burned by WallStreetBets' advice in the past are finding the allure of striking it rich on weekly options trades hasn't fully disappeared.

Omar, the pre-med student who lost tens of thousands of dollars on weekly options trades, told CNN Business that he is back on WallStreetBets, trying to recoup what he lost trading money from his student loans last year. He'd bought one GameStop option which shot up to $10,000 from $7,000 amid Wednesday's rally.

"There is a pandemic. There is nothing to do. I can't party. I can't go outside, and the prospect of making a little money sounds really good,"Omar reasoned. "What's not to like?"

Sours: https://edition.cnn.com/2021/01/29/investing/wallstreetbets-reddit-culture/index.html
How To Index Backlinks Faster with Reddit Account 2021

How Reddit day traders are using the platform to upend the stock market and make money in the process

WallStreetBets
  • Retail investors on Reddit are boosting GameStop shares in defiance of hedge funds and investing norms.
  • Members of the group Wall Street Bets have formed a snowballing momentum trade as posts go viral.
  • One expert sees the unconventional rally as a sign "the institutions are losing some control."
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Like Bitcoin, Tesla, and the SPAC IPO, the Reddit forum r/wallstreetbets grew exponentially in 2020. In the first weeks of 2021, it discovered just how strong it's become.

The subreddit's subscriber count ballooned by 133% to 1.8 million members last year. Growth accelerated further this month, and the forum's 2.2 million current members now drive one of the platform's most active pages.

Members have spent the past three weeks bidding up the video game retailer GameStop, and the results have been spectacular. Shares have skyrocketed more than 1,200% since Wall Street Bets first piled in January 11. Their overwhelming bullishness has fueled billions of dollars in losses for short-sellers. One bear has even stopped commenting on GameStop stock, citing harassment from some members.

Wall Street Bets has done this before. Options-obsessed members have boasted about trading everything from newly bankrupt car-rental giants to now-delisted Chinese café chains. They're particularly big fans of electric-vehicle stocks; Tesla enjoys unique enthusiasm on the forum.

Yet previous Reddit-fueled rallies typically lasted a matter of days before profit-taking pulled prices back to earth. The subreddit's obsession with GameStop shows no signs of abating. Simply put, the subreddit amplified a trade, stoked a fear of missing out that pulled in new investors, and reveled in Wall Street's surprise.

Here's how the snowballing trade was born.

Read more:MORGAN STANLEY: Buy these 9 sports-betting stocks ahead of the industry's expected legalization in 12 states this year and its growth to $10 billion in 2025

Monetizing the meme

Reddit promotes itself as "the front page of the internet." Part social media, part news aggregator, part discussion forum, the platform hosts a diverse set of communities ranging from r/worldnews to r/babyelephantgifs. Posts and comments are public, and those that receive the most positive votes, or "upvotes," from other users are featured most prominently.

On r/wallstreetbets, members frequently brag about outsize gains - and, in some cases, losses - and make a mockery out of risky trading behavior. Some posts garner so many upvotes they are elevated to r/popular, the constantly updated subreddit that flaunts the day's posts with the most interaction.

During the GameStop-trade saga, several Wall Street Bets posts with tens of thousands of upvotes have graced the pseudo-hall-of-fame page. Countless users unfamiliar with Wall Street Bets have been exposed to its exuberance and high-risk, high-reward behavior, often through posts showing off multimillion-dollar gains on GameStop shares.

The core behavior seen in the market isn't unheard of. Richard Smith, the CEO of the Foundation for the Study of Cycles, told Insider that GameStop's rally was "absolutely" a momentum trade, just one operating in a "very compressed time frame." A momentum trade is generally characterized by investors continuing to pile into a proven winner.

The first few days of gains saw Wall Street Bets members cheer the rally and beg more to join in. Posts made it to r/popular, Wall Street Bets members gained online infamy, more casual investors were introduced to the trend, and a cycle began.

Read more:GOLDMAN SACHS: These 22 stocks still haven't recovered to pre-pandemic levels - and are set to explode amid higher earnings in 2021 as the economy recovers

"This is a human emotional cycle," Smith added. "And now you have more people at home and spending more time on their devices. It's all fuel for the acceleration of these sentiment cycles."

There's also financial gain to be had for those pursuing internet notoriety. Reddit users can award posts and comments with various virtual medals, many of which can be gifted only through the use of real-world currency.

Sneering memes can pull in a few dollars' worth of awards. Others rake in small fortunes. The week's most popular Wall Street Bets post - bragging about an alleged 992% return on GameStop options - received a cool $765 worth of awards, according to an online program that estimates the real-world value of Reddit points.

'The institutions are losing some control'

Reddit's structure and the democratic nature of users picking the most popular content differs wildly from Wall Street's research reports and market analysis. Yet both generate trade ideas that proliferate across market participants. And Wall Street Bets' ability to turn free, user-produced research into hugely viral media has seemingly been underestimated.

"You have these media-driven platforms where the media isn't controlled by the institutions in the way that it has historically been," Smith said. "It's really a sign that the institutions are losing some control."

Many Wall Street Bets members advertise the GameStop trade as a surefire way to post quick gains, so long as they keep the bullish faith.

They've largely been right. After shares experienced their initial pop roughly two weeks ago, gains have continued in pronounced fashion and amounted to more than 300% this week alone, through Tuesday's close.

Others rally investors to the cause by posing the GameStop trade as an antiestablishment movement, a middle finger to an industry that underestimates Redditors' influence. They proclaim that, with fee-free trading platforms, easily accessible margin, and enough allies, they can beat the funds that have dominated Wall Street for so long.

They, too, have something to show for themselves. The hedge fund Melvin Capital will receive a $2.75 billion investment from Citadel and Point72 Asset Management after losing roughly 30% on its GameStop short, according to The Wall Street Journal.

"When you are able to feel like you're a rebel going against the establishment, that's a very powerful emotion," Smith said. "It's absolutely part of what is contributing to this gain stock event."

He continued: "You read the language on the message board, it's very 'us against them.' That's so powerful."

Now read more markets coverage from Markets Insider and Business Insider:

An engineer-turned global macro investor breaks down why bitcoin is so volatile - and shares 3 reasons why she remains bullish about the digital asset

One measure shows the stock market is still affordable at current levels - but investors should avoid these 3 bubble-like pockets, Goldman Sachs says

Microsoft will leap another 20% as cloud-computing strength drives strong earnings, Wedbush says

Read the original article on Business Insider

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Sours: https://www.businessinsider.com/reddit-day-traders-wallstreetbets-gamestop-gme-rally-upending-stock-market-2021-1

Index subreddit

Reddit Corpus (by subreddit)¶

A collection of Corpuses of Reddit data built from Pushshift.io Reddit Corpus. Each Corpus contains posts and comments from an individual subreddit from its inception until Oct 2018.

A total of 948,169 subreddits are included, the list of subreddits included in the dataset can be explored here. Note that the directories are ordered lexicographically, with capital letters sorted first, so the subreddit KDC is found in JustinYCult~-~Kanye/ rather than Kanye2024~-~Kemetic/.

We also provide a small sample of the collection (see Reddit Corpus (small)).

Dataset details¶

Speaker-level information¶

Speakers in this corpus are Reddit speakers, identified by their account names.

Utterance-level information¶

Each individual post or comment is viewed as an utterance. For each utterance, we provide:

  • id: index of the utterance
  • speaker: the speaker who authored the utterance
  • conversation_id: id of the first utterance in the conversation this utterance belongs to
  • reply_to: id of the utterance to which this utterance replies to (None if the utterance is not a reply)
  • timestamp: time of the utterance
  • text: textual content of the utterance

Metadata for each utterance may include:

  • score: score (i.e., the number of upvotes minus the number of downvotes) of the content
  • top_level_comment: the id of the top level comment (None if the utterance is a post)
  • retrieved_on: unix timestamp of the time of when the data is retrieved
  • gilded: gilded status of the content
  • gildings: gilding information of the content
  • stickied: stickied status of the content
  • permalink: permanent link of the content
  • author_flair_text: flair of the author

Conversational-level information¶

Each post with its corresponding comments are considered a conversation. For each conversation, we provide:

  • title: title of the post
  • num_comments: number of comments following this post
  • domain: domain of the post
  • subreddit: subreddit this post is retrieved from
  • gilded: gilded status of the post
  • gildings: gilding information of the post
  • stickied: stickied status of the post
  • author_flair_text: flair of the author

Corpus-level information¶

  • subreddit: the list of subreddits included in this corpus
  • num_posts: total number of posts included in this corpus
  • num_comments: total number of comments in this corpus
  • num_speaker: number of unique speakers in this corpus

Usage¶

A subreddit corpus name is always the name of the subreddit with the prefix “subreddit-“. For example, the subreddit Cornell. can be downloaded as follows:

>>> fromconvokitimportCorpus,download>>> corpus=Corpus(filename=download("subreddit-Cornell"))

For some quick stats on this subreddit:

>>> corpus.print_summary_stats()Number of Speakers: 7568Number of Utterances: 74467Number of Conversations: 10744

Combining different subreddits¶

A common use case for the subreddit corpora might be to combine related subreddit corpora for further analysis. This is straightforward with the Corpus’s merge functionality, which we demonstrate below.

We use the Cornell and ApplyingToCollege subreddits as we would expect some overlap in Speakers that the merge functionality will take into account.

>>> cornell_corpus=Corpus(filename=download("subreddit-Cornell"))>>> cornell_corpus.print_summary_stats()Number of Speakers: 7568Number of Utterances: 74467Number of Conversations: 10744>>> a2c_corpus=Corpus(filename=download("subreddit-ApplyingToCollege"))>>> a2c_corpus.print_summary_stats()Number of Speakers: 53067Number of Utterances: 1148299Number of Conversations: 121007>>> merged_corpus=cornell_corpus.merge(a2c_corpus)>>> merged_corpus.print_summary_stats()Number of Speakers: 59739Number of Utterances: 1222766Number of Conversations: 131751

Notice that the numbers of Utterances and Conversations in the merged corpus are simply the sum of those in the constituent corpora. This is to be expected since the Utterances and Conversations from these two subreddits are distinct and non-overlapping.

However, the number of speakers is not the sum of those of the constituent corpora – undoubtedly because some Speakers have posted to both r/ApplyingToCollege and r/Cornell.

Additional notes¶

  1. Some subreddit corpora are large. If the subreddit of interest is highly active, it is advised to check the size of the compressed subreddit corpus file here prior to downloading.
  2. This is a beta version release. Not all subreddits that exist are included, and the completeness of subreddit history is not guaranteed. Note that this also implies that some thread structures may be broken: for some utterances, the reply-to ID may not match any utterance that exists in the current version of the data. We hope to provide a more complete version of the dataset in the next release.
  3. In some cases, the speaker activity information (i.e., number of posts/comments) may be inflated by duplicated entries in intermediate processing steps. We plan to release further updates to fix this issue.

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Scrape Reddit Data via API - How to Use Reddit's API for Data Scraping Subreddits, Posts \u0026 Comments

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