r/wallstreetbets is being taken over. Mods, comments and posts are being removed
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Have you been to WSB recently? Half the posts are "moon" and "HODL" chants
A lot of things that happened on T_D happened on wsb recently too.
- bots spamming 'X from Y, I just put in ZZZ cash' similar to T_D picture comments when Trump got elected with 'I just voted' where it was mostly spam
- copy pasta same thing, constantly on the GME thread even though it was outdated and moronic... (usually content is either well thought out, sarcasm/jokes, fresh memes)
- An insane amount of bots posting new spam threads visible when reddit ban limits were reached. (good thing for the moderators)
If there are 5 apples in the world, but I can go to the market and sell 10 of them, that market does not reflect the real price of apples.
Even more so if after that I can pretend to sell apples at even lower prices back and forth between me and my mate, who's also been selling apples.
Sure, you can hold some stock to hurt some "them"s, but at the same time, you will help other "them"s.
And that’s before we get to the fact that the markets are rigged against short sellers (e.g., there are circuit breakers that pause trading activity when prices are plummeting. There is no such circuit breaker when prices are rising steeply). There’s also massive information transparency issues. Pretty much everyone who is charged with making private company information public has extremely significant financial incentives to skew that information to be as positive as possible.
On the other hand, a majority of recessions have been the result of assets being overpriced.
The idea that attacking shorts is somehow a good things, when the entire financial system is already tilted against shorts and is ridiculously in favor of those wanting to increase stock prices is beyond stupid.
It was also strange to see GME pushed since the sub had a no-penny-stock rule which means anything below 5B market cap would get insta delete.
Part of the strangeness included all the 'ape' comments and copy-pastas everywhere. (what ever happened to the previous 'autist' 'retard' and so on ...)
Even when a huge hedge fund sold massive amounts of stock, the forum was still blaming 'ladder' attacks (not that these didn't probably happen at some point).
Alas, the content on non-daily/non-gme thread was fun, the opportunity was there if you knew when to cash out and ignore things.
This then was built upon with the "aps together strong" scene from the Rise of the Planet of the Apes movie [1].
But yeah, its a bit overdone.
[0]:Not the original, but one example - https://www.reddit.com/r/wallstreetbets/comments/l7jnqw/info...
They then begin banning content/users who don't align with their plan.
I've seen this go several ways. They either take over and use the sub for whatever, or tank the sub/message/whatever.
It's always incredibly frustrating seeing it from the inside. I've seen this firsthand done in personal life, business, online, everywhere. No aspect of existence has this shit not eroded.
The fact that we all just accept this as status quo is mind blowing. It's like rotten politicians in every movie. Why do we accept it?
FWIW I left reddit years ago after seeing exactly this happen to several subs.
Once you factor in all the "nerds" who bought at 100+ and are now massively in the hole and all the "fat cats" who made millions playing the WSB crowd, I suspect you'll find a there will be a roughly net zero wealth transfer from the "wall street fat cats".
Good luck to them on their DOGE bet! If there's one crypto that deserve to be at the top, it's DOGE.
And it’s always been considered market manipulation to coordinate groups of investors to make the same trade, since the 1920s. I don’t think anything done on WSB crossed the line but it was in the vicinity.
The only clearly illegal acts were committed by DeepF**ingValue, since he had special obligations as a heavily licensed broker and brokerage firm employee while making his tout videos.