Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buyers Admit They Messed Up

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by atsushin on Saturday February 06, 2021 @02:27AM (#26044837)

FOMO is one of the deadliest threats to sound decision-making. I bought some GME just as it dipped to $90, smacked myself back to reality and sold the same day -- thankfully with a small profit. I'm dipping my toes back in with two shares at $70 but I'm not expecting anything to come next week. I think /r/wallstreetbets is going to be 'ruined' by its newfound popularity for the foreseeable future, we can already see the subreddit drama and disinformation in full swing.

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by FeistyOtter on Saturday February 06, 2021 @02:33AM (#26044861)

Isn't it what WSB is all about? Pick a stock, bet on it, and when you lose you post your loss porn to the subreddit? I assume people new to WSB will take this seriously, and it does pose a threat to the sub's health, but older members know exactly what they are getting into.

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by aahortwwy on Saturday February 06, 2021 @02:59AM (#26044984)

The vast majority of WSB members weren't on the subreddit two weeks ago. At this point it may as well be a completely different community.

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by EQVEYWDCHQ on Saturday February 06, 2021 @03:11AM (#26045057)

It was also a completely different community at 50k vs. 500k etc. At that point it started hitting /r/all consistently.

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by pjc50 on Saturday February 06, 2021 @07:25AM (#26046087)

/r/all does immediately ruin the subreddits that appear there.

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by tourist_ on Saturday February 06, 2021 @03:09AM (#26045048)

To put this in context, the member count went from (at most) 1.5M to 8.5M within weeks. No wonder it got crazy out there.

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by yongjik on Saturday February 06, 2021 @03:28AM (#26045152)

I don't know exactly what WSB is all about, but there are way too many people who seriously think this is some kind of popular uprising against evil hedge fund to take back the profit they deserve. (Or at least there were, until a few days ago.)

I don't think they'll like "Bro, it was always about making fun of how much money you lost."

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by guerrilla on Saturday February 06, 2021 @02:43AM (#26044898)

That was my view of it too. It really creeps me out that there are all these articles with "Should you take investing advice from reddit?" when WSB has never, as far as I know, been anything but high-risk fucking around for fun and profit (or loss.)

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by rahkiin on Saturday February 06, 2021 @02:49AM (#26044933)

The sub, at least until 3 weeks ago, was all about showing losses and being called a retard because you lost hundred of thousands on some stupid bet. Of course there were some successes.

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by jedmeyers on Saturday February 06, 2021 @02:50AM (#26044938)

> Isn't it what WSB is all about?

I mean, yeah, the "bet" is even in the name.

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by rvz on Saturday February 06, 2021 @04:53AM (#26045489)

> I think /r/wallstreetbets is going to be 'ruined' by its newfound popularity for the foreseeable future, we can already see the subreddit drama and disinformation in full swing.

It already is ruined. Given the influx of media attention, new users, bots and the GME after-party of bag-holders who missed the ship. The 'actual' old members (who got in early as $5 - $20) are already gone with their gains. Now it's just full of latecomers who bought as high as $200 - $465 posting screenshots of losing their entire life savings.

The subreddit already had users pretending and memeing to be idiots until the real idiots came in and those posting screenshots of their huge losses with their life savings with disinformation, ape emojis, 'diamond hands', 'hodl' as the stock fell etc.

Not only they didn't know that they have become a meme, They are now going to be featured in the new WallStreetBets movie. Won't be surprised if they called it 'Diamond Hands' or 'The big short squeeze'.

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by atsushin on Saturday February 06, 2021 @12:51PM (#26048313)

I wonder where the old users will be migrating to. There were quite a few aspects of WSB I really enjoyed before 2020 / 2021 happened.

[ Parent | on HN ]

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by harambae on Sunday February 07, 2021 @12:00AM (#26052781)

/r/options and /r/thetagang are getting heavy influxes (which I think they are a little nervous about)

[ Parent | on HN ]