• @kylie_kraft
    link
    English
    2742 months ago

    I used to fucking hate that sub in my feed, but god bless those cappy swine

    • circuitfarmer
      link
      English
      1552 months ago

      My sentiments exactly. The enemy of my enemy is my friend, as annoying as they can be. Now that I’m not using reddit I wish them the best of luck wreaking havoc.

    • @laverabe
      link
      English
      542 months ago

      💎💎💎🚀🚀🚀 lol, couldn’t resist

      • @darelik
        link
        English
        262 months ago

        Apes together strong

          • @pigup
            link
            English
            52 months ago

            Any day now! 🤞

        • @pigup
          link
          English
          5
          edit-2
          2 months ago

          🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍

          Edit: 🦍

    • @[email protected]
      link
      fedilink
      English
      312 months ago

      Does form an interesting premise though for a collectivist tool of anticapitalist warfare.

      Firms taking short positions are some of the most low down parts of the stock and trade system, so you could cost the parasites millions and billions by organizing mass buys of stock on firms with shorted stock, and the best part is that the folks holding shorted positions can lose infinitely, so basically enough people working together would be able to pull the equivalent of stringing the leaches up by their nutsack and then dragging them around by it on a gravel pathway by horseback

  • @[email protected]
    link
    fedilink
    English
    2272 months ago

    “Reddit Invokes The Streisand Effect to Openly Invite r/WallStreetBets to Wreak Havoc on Their Stock Price.”

    • @[email protected]
      link
      fedilink
      English
      92 months ago

      I think they’re trying to get the SEC to solve their problems for them. I wonder how careful the WSB/Stonkers can be.

      • @Kbobabob
        link
        English
        72 months ago

        Maybe I’m just dumb, but what could the SEC actually do?

        • @[email protected]
          link
          fedilink
          English
          242 months ago

          Accuse them of stock market manipulation, which is exactly what the hedge fund guys do constantly. But since the Reddit kids aren’t hedged managers with $100millions, they’ll get sucked.

  • @8ender
    link
    English
    1402 months ago

    I feel like this is just Reddit asking for the sub to inflate the stock like they did GameStop.

    • @Windex007
      link
      English
      642 months ago

      Shorts apply downward pressure to the market price, so not sure how well thought out the plan is.

      • @800XL
        link
        English
        82 months ago

        Like Musk with Dogecoin.

  • BreakDecks
    link
    fedilink
    English
    1162 months ago

    Somebody should go ahead and get a dedicated WSB instance going so that they can migrate easily after Reddit bans them. I want them contained because they are a toxic community, but I also want them to short the Reddit stock because it would be hilarious.

    • BlanketsWithSmallpox
      link
      English
      242 months ago

      they are a toxic community,

      Yeah. Being mostly comprised of Incel, conspiracy, Q / Trump shills who think they can predict the future better than their peers will do that to a community.

      • @Dkarma
        link
        English
        362 months ago

        Looking at the real foundation of wsb and /u/deepfuckingvalue it’s not hard to see why conspiracy theorists and the gullible jumped onboard.

        The thing about gme was dfv was 10000% correct.

        • @Randelung
          link
          English
          42 months ago

          Yeah, and then everyone involved in GME left the sub. What remained was what remains today.

        • @UnderpantsWeevil
          link
          English
          2
          edit-2
          2 months ago

          If you need to run back three years to find a single instance in which a guy was correct, I would not bet the bank on the next prediction being a big winner.

          AMC, Best Buy, and Hertz all bled out like stuck pigs while these dorks were screaming and crying.

          • @MataVatnik
            link
            English
            42 months ago

            Yeah, thats because AMC took the value they gained from WSB shills, and used it to pay their bonuses instead of improving their business. GME is the only company that actually tried to do something with the windfall value they gained.

            • @UnderpantsWeevil
              link
              English
              32 months ago

              AMC took the value they gained from WSB shills, and used it to pay their bonuses

              Which is why their firm was in the tank to begin with. And something DFV should (or, perhaps did) already know.

      • @CptEnder
        link
        English
        72 months ago

        God it was glorious back before all these people though. Watching people gamble on their tuition or turn a $50k loan into -$300,000 of debt for memes was fucking hilarious.

    • @UnderpantsWeevil
      link
      English
      92 months ago

      WSB is so stacked with bots and shills already, what would that even look like?

  • @[email protected]
    link
    fedilink
    English
    1082 months ago

    Lol in the article it says ppls proposed shotlrting Reddit stock. I love some of those apes so much, they got great ideas.

    • @SinningStromgald
      link
      English
      652 months ago

      I hope they short it into oblivion and make all the tendies in the world.

      • roguetrick
        link
        fedilink
        152 months ago

        Most you can short it in a day is 10 percent right? I dunno if they’re disciplined enough.

          • roguetrick
            link
            fedilink
            32 months ago

            I’m not knowledgeable about it for sure, it just seems rather next to impossible to tank an IPO with borrowed shares alone.

    • @[email protected]
      link
      fedilink
      English
      102 months ago

      I’m retard.

      What actually happened to the gamestop thing. Did the government end up getting involved and shutting it down? There was some shady shit going on for a while.

      How would reddit even tank the price? Shorting is just a way for them to lose money if they are wrong.

      • @PM_Your_Nudes_Please
        link
        English
        47
        edit-2
        2 months ago

        Short selling is used when you expect a stock to drop in price. You “borrow” a stock from someone and immediately sell it for the current price. You have an agreement to return the borrowed stock to them within [x] time. So let’s say you borrow the stock and sell it for a nice even $100.

        But you’re expecting the stock price to drop significantly. So when it drops to $60, you’ve now made $40. Because you sold it for $100 and now you can buy it at $60 to return it to the lender. If the price has dropped, you make money because you keep the difference between your sale price and your purchase price.

        The issue with this is that your potential for loss is technically unlimited. If the price never drops, you never make money. Or even worse, if it increases, you stand to lose money. And since there’s no price cap on stocks, you can theoretically lose an unlimited amount. Since you’re legally obligated to return that stock to the person you borrowed it from, you can be forced into buying the stock for exorbitant prices if it increases.

        The GameStop thing was caused by something called a short squeeze. Basically, a bunch of people expected the stock to drop, so they were all shorting it. Someone realized this, posted about it, and people started buying up all the available stock and refusing to sell. Now all of those people who had sold the stock and were hoping to buy it back cheap found that there was nobody to buy it from.

        They increased their offer price. Still nobody to buy it from. They increased the offer again. Still nobody to buy it from. And as more shorts matured and more people were legally obligated to buy the stock, the more the price increased. It’s a simple supply and demand calculation: The demand was rapidly increasing as more people were legally obligated to return the stocks they had borrowed, and the supply had suddenly evaporated because people were outright refusing to sell. And this has a cascading effect, as people see the price spiking and refuse to sell because they expect it to continue to climb. This is where all the “to the moon” and rocket memes came from, because stock owners planned to hold until the price made it all the way to the moon.

        Some vendors like Robinhood stopped allowing people to buy GameStop stock. The idea was that it would limit the shorters’ potential losses, by keeping the dwindling supply from being completely bought out. The hope was that once people were banned from buying more, they would begin to sell. But this only pissed a lot of people off, because it was a blatant attempt at manipulating the market. It was a blatant shield for the trust funds who had historically had a stranglehold on the markets. It was seen as the rich helping the rich, because that’s exactly what it was.

        • Spaz
          link
          English
          92 months ago

          Amazing explanation, thanks!

          • @[email protected]
            link
            fedilink
            English
            8
            edit-2
            2 months ago

            Yeah, I remember watching all of this live, but that was years ago. Then wsb started posting nothing but tweets by some Cohen guy and that’s where I lost all interest.

            I’m kinda assuming the whole thing blew over and nobody had to face any consequences at all, because reality sucks, and because any win for the wsb folks would be repeated by them everywhere ad nauseam.

        • @Coreidan
          link
          English
          22 months ago

          They increased their offer price. Still nobody to buy it from. They increased the offer again. Still nobody to buy it from. And as more shorts matured and more people were legally obligated to buy the stock, the more the price increased.

          This is nonsense. The SEC already came out with a report confirming that the run up on GameStop wasn’t caused by shorts closing.

          Hedge funds are short game stop. They are still short on GameStop. The real squeeze hasn’t happened yet. Whether it will or not is another debate.

        • @[email protected]
          link
          fedilink
          English
          1
          edit-2
          2 months ago

          I get all that I was there for that. But then lost interest. Wondered what happened after that.

          Are people still holiding? There was talk that the government was going to allow people to settle their shorts for low prices or something. I guess people that made money was because of the bubble nature and memes of the whole thing, rather than any shorting factors.

          But more importantly how does shorting hurt reddit?

          • @obbelusk
            link
            English
            22 months ago

            There are still some who are diamond handing, unclear how many. There’s a subreddit called gme_meltdown you can check out if you want a rundown on what’s happening.

      • @Brkdncr
        link
        English
        152 months ago

        Shady shit did go down but a lot of money was moved from the wealthy to the not as wealthy. I don’t think the government did anything except interview a few of the major players.

        Every once in a while you’ll see a fancy car with a license plate that references gme, mooning, or wsb.

      • @[email protected]
        link
        fedilink
        English
        42 months ago

        The GME thing resulted in lots of people losing lots of money, whereas many of them were convinced they were going to become millionaires.

        • SaltySalamander
          link
          fedilink
          122 months ago

          The “GME thing” resulted in a couple of hedge fund firms going belly up. So yes, you are correct that a lot of people lost a lot of money. A few people did become millionaires from the fiasco.

          • @[email protected]
            link
            fedilink
            English
            32 months ago

            Sure, at the very beginning there was some action for those very few early enough to the party, but the vast majority of people who bought in to GME did so after this happened and have only lost money.

  • @pdxfed
    link
    English
    782 months ago

    Anything to get their IPO in the news. Ignore

    • Flying Squid
      link
      English
      62 months ago

      Should I ignore, or should I enjoy the thought of Reddit’s stock being tanked by its own users?

      • @[email protected]
        link
        fedilink
        English
        32 months ago

        The guys organizing the ipo will become very very rich even if it tanks later. They sell for their price. Afterwards, it tanks.

        • Flying Squid
          link
          English
          22 months ago

          They’re already rich. You’re not going to make them poorer either way.

          On the other hand, it will make spez look like a big fool, which I will enjoy.

          I’ll take my schadenfreude where I can get it.

  • Altima NEO
    link
    fedilink
    English
    712 months ago

    I bet theyre all gonna short Reddit.

    Which is funny, because considering Reddit was trying to get users to buy in on their IPO, they probably thought they could weaponize the whole “diamond hands” meme again, and get everyone to shoot reddits “stonks” “to the moon!”

    • Stern
      link
      English
      362 months ago

      They’ve always been behind the curve, from the crypto that never launched to the NFT avatars to the streaming stuff to the IPO now being laughably belated.

    • @return2ozmaOP
      link
      English
      152 months ago

      I actually got the Reddit IPO invite. Hard pass.

      • @chiliedogg
        link
        English
        32 months ago

        WSB incels are essentially immune to a failed short.

        Yeah, shorting theoristically has no ceiling on potential loss, but most of these retail kids don’t have enough assets for a squeeze to really do anything.

        Owing somebody a thousand dollars and owing someone a billion dollars are the same thing for them.

  • @iAvicenna
    link
    English
    682 months ago

    this smells like reddit getting desperate

    • Bakkoda
      link
      fedilink
      English
      312 months ago

      It’s almost smells like an out if the IPO tanks. Stinky.

      • @mods_are_assholes
        link
        English
        172 months ago

        Sure wish I had the collateral to short the ever loving shit out of that stock.

    • @[email protected]
      link
      fedilink
      English
      122 months ago

      Considering they’re DMing certain Reddit users (their most active users, according to the DM) about being given a chance buy Reddit stock during the IPO (that’s not strictly PR speak; they’re actually setting aside some stock for their users), that’s entirely possible.

        • @[email protected]
          link
          fedilink
          English
          12 months ago

          Yeah, they sent it to me, too. For users, it’s based on total karma. For mods, it’s based on total mod actions taken.

          • @MataVatnik
            link
            English
            12 months ago

            Over 200K karma I read somewhere else

            • Flying Squid
              link
              English
              12 months ago

              Well fuck, I had well over 200k karma. Why didn’t I get a buy-in offer I could tell them to fuck off for?

      • @[email protected]
        link
        fedilink
        English
        52 months ago

        I think it’s to limit damage from subreddits like WSB. If a bunch of your most active users own stock, they will be slandering WSB and calling for the ban of the subreddit when they eventually want to short it.

        • @[email protected]
          link
          fedilink
          English
          12 months ago

          Reddit has enough of the same half crazed energy Tumblr has that I suspect quite a few users even the most active site would fuck the site over for fun.

          • @chiliedogg
            link
            English
            12 months ago

            Yeah. I didn’t mod anything but was very active, and I got emailed a 1st round invitation.

  • @[email protected]
    link
    fedilink
    English
    682 months ago

    All markets are on the whim of the people, if tomorrow everyone decided Exon Mobile wasnt worth it and we’re all selling the price would tank.

    Its just bad luck for Reddit, everyone thinks Reddit isnt worth shit

    • @[email protected]
      link
      fedilink
      English
      542 months ago

      I don’t know if it’s bad luck. They’ve made some decisions to remind us that it’s worthless.

      Heck, if Apollo for Reddit still worked, I’d probably still use it daily.

      • @TORFdot0
        link
        English
        272 months ago

        If Apollo for Reddit still worked, I’d probably still be there too. But at the same time I’m pretty thankful that things happened the way they did because it really opened my eyes to how dissatisfied I was with corporate social media and I feel so much more engaged in my hobbies and their communities now on the fediverse.

        It helps that I am already primarily interested in tech, web, and networking (with some retro gaming mixed in) so the fediverse was already a suitable replacement. I feel for people whose communities are dead here.

        • @CobblerScholar
          link
          English
          72 months ago

          I make stuff and yeah the crafter communities are pretty dead here. The comments I do get feel more genuine though

      • bruhduh
        link
        English
        0
        edit-2
        2 months ago

        deleted by creator

    • @[email protected]
      link
      fedilink
      English
      72 months ago

      I prefer Reddit today. If Reddit suddenly disappears, I will simply switch to Lemmy full time. 💀

      So I really don’t care what happens to Reddit.

  • @ikidd
    link
    English
    602 months ago

    I hope they short it into the sub-basement. I hate those twats, especially when I modded /r/amc, but I might just have to cheer for them if they can snowball the Reddit IPO. It would be spectacular.

    • @radicalautonomy
      link
      English
      142 months ago

      Was about to comment basically the same thing. They are ableist morons who are poster children for the Dunning-Kruger effect with their YOLOing and HODLing and whatnot, but them fucking over spez would make my god damned decade and I’d raise a glass to those cunts.

  • @dasgoat
    link
    English
    522 months ago

    Lol please do

  • 👍Maximum Derek👍
    link
    fedilink
    English
    46
    edit-2
    2 months ago

    I’m surprised (but not upset) that WSB hasn’t set up a dedicated Lemmy server. Surely they must think they’ve grown big enough to not need reddit anymore.

      • @[email protected]
        link
        fedilink
        English
        232 months ago

        I mean, for wallstreetbets that’s actually a good fit. It’s not like they’re creating a knowledge base, it’s just an endless stream of memes - exactly what discord was designed for.

      • @Haha
        link
        English
        12 months ago

        There is nothing wrong with this

    • @EnderMB
      link
      English
      202 months ago

      Why would they? They have a platform in Reddit, and that’s a platform that people know. Lemmy is still fairly niche, so unless something happens like WSB getting deleted by the Reddit admins I don’t see why they’d bother.

        • @EnderMB
          link
          English
          92 months ago

          To expand?

          Like adding a deck chair to a mega-yacht.

          Gain influence down the road?

          Lemmy has no influence. The only thing it tries to influence is moving people to Linux, and that’s been going poorly for the better part of two decades…

          Diversify?

          Without the two above, I don’t see the benefit.

            • @EnderMB
              link
              English
              02 months ago

              I used Reddit alongside Digg, and it was rarely ever as empty as Lemmy.

              Many of the niche communities didn’t exist, sure, but the big subs were at least 10x larger than the big communities here.

  • @iMastari
    link
    English
    442 months ago

    Oh no. Well anyways how is everyone’s Friday going?

  • @CobblerScholar
    link
    English
    402 months ago

    Sounds like the people who run Reddit haven’t been paying attention to what the internet does to greedy people who start complaining