{"id":105001,"date":"2021-01-27T20:27:58","date_gmt":"2021-01-28T01:27:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=105001"},"modified":"2021-01-28T08:05:20","modified_gmt":"2021-01-28T13:05:20","slug":"stunning-reddit-shuts-down-wallstreetbets-subgroup-blames-racism-and-hate-speech-after-rookie-investors-in-general-public-make-money-causing-hedge-funds-to-go-bust","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stunning-reddit-shuts-down-wallstreetbets-subgroup-blames-racism-and-hate-speech-after-rookie-investors-in-general-public-make-money-causing-hedge-funds-to-go-bust\/","title":{"rendered":"STUNNING: Reddit Shuts Down WallStreetBets Subgroup \u2014 Blames Racism and Hate Speech \u2014 After Rookie Investors in General Public Make Money Causing Hedge Funds to Go Bust"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">54<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fstunning-reddit-shuts-down-wallstreetbets-subgroup-blames-racism-and-hate-speech-after-rookie-investors-in-general-public-make-money-causing-hedge-funds-to-go-bust%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=105001&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>&nbsp;<\/p>\n<p><strong>What an amazing story!<\/strong><\/p>\n<p>Reddit shut down its WallStreetBets subreddit page on Wednesday after rookie stock market investors in the general public joined together to purchase stock in targeted companies causing a major disruption in the stock market and resulting in several hedge funds to go bust.<\/p>\n<p>Of course, Reddit blamed \u201cracism\u201d and \u201chate speech\u201d for removing the community.<\/p>\n<p>According to <a href=\"https:\/\/www.theverge.com\/2021\/1\/27\/22253251\/discord-bans-the-r-wallstreetbets-server\">The Verge<\/a>, Discord has banned the r\/WallStreetBets server. Reddit\u2019s WallStreetBets subreddit is the driver of\u00a0<a href=\"https:\/\/www.theverge.com\/22251427\/reddit-gamestop-stock-short-wallstreetbets-robinhood-wall-street\">an unprecedented rally of GameStop stock,<\/a>\u00a0and has received a great deal of attention in the press as the stock continues to soar.<\/p>\n<p><a href=\"https:\/\/www.msn.com\/en-us\/money\/topstocks\/gamestop-reddit-an-explainer-on-whats-happening-in-the-stock-market\/ar-BB1d9weh\">NBC News<\/a> attempted to explain the frenzy in the stock market surrounding WallStreetBets today.<\/p>\n<blockquote><p>Here\u2019s a guide to understanding why, and what the frenzy means for the stock market.<\/p>\n<p>Like many companies that are in rough shape, GameStop was the subject of what\u2019s called short selling, in which professional investors borrow shares of stock to sell and then buy back at a later date, which lets them pocket profits if the stock price goes down. These are basically bets that the company will fail.<\/p>\n<p>GameStop was one of the most shorted of all publicly traded companies. Other companies on that list include AMC Theatres, Bed Bath &amp; Beyond and even the mostly defunct Blockbuster. Remember those names.<\/p>\n<p>And then it became the source of a short squeeze.<\/p>\n<p>What is a short squeeze?<br \/>\nFor the most part, investors follow the \u201cbuy low, sell high\u201d format when it comes to stocks. Short sellers do the opposite \u2014 they buy a stock when it is high and bet that it will continue to fall. If that doesn\u2019t happen, and the stock price rises, short sellers are forced to cover their position, or buy more stocks \u2014 in order to minimize their losses.<\/p>\n<p>Since short sellers \u2014 frequently hedge funds \u2014 are essentially betting against a company\u2019s success, it can be a risky position to take. Any positive news or enthusiasm for the stock will push up that stock\u2019s valuation, minimizing profit taking for the short seller. In the case of GameStop, chatter on massive online trading forums invigorated interest in purchasing the stock, pushing up the price, which in turn fueled more interest.<\/p>\n<p>The speculative trading left short sellers with no more shares to buy in order to cover their position, creating a short squeeze, and leaving them with millions of dollars in stocks that they bought at a high price but which they then needed to offload at an even higher price.<\/p><\/blockquote>\n<p>This move this week by the general public and rookie investors INFURIATED market insiders. So later today Reddit caved and shut down the WallStreetBets subgroup.<\/p>\n<p>The reaction to this latest move to snuff out the small guy is epic!<\/p>\n<p><strong>Charles Payne WAS LIT!<\/strong><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">.<a href=\"https:\/\/twitter.com\/cvpayne\">@cvpayne<\/a> On GameStop Stock Market Drama<\/p>\n<p>&#8220;All of this whining by Wall Street it&#8217;s making me sick.&#8221;<\/p>\n<p>&#8220;I didn&#8217;t hear one person on tv complaining about Wall Street trying to crush GameStop.&#8221; <a href=\"https:\/\/t.co\/wz5ou75Pgm\">pic.twitter.com\/wz5ou75Pgm<\/a><\/p>\n<p>\u2014 The Columbia Bugle <img decoding=\"async\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/13.0.1\/72x72\/1f1fa-1f1f8.png\" alt=\"\ud83c\uddfa\ud83c\uddf8\" \/> (@ColumbiaBugle) <a href=\"https:\/\/twitter.com\/ColumbiaBugle\/status\/1354530757520179200\">January 27, 2021<\/a><\/p><\/blockquote>\n<p>Glenn Greenwald\u2013<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Those who have spent years begging and pleading with Silicon Valley to aggressively police speech and content have single-handledly gutted one of the key initial values of the internet: empowering people to compete with corporate &amp; political power centers. This is what you built: <a href=\"https:\/\/t.co\/puQx3rO7G2\">https:\/\/t.co\/puQx3rO7G2<\/a><\/p>\n<p>\u2014 Glenn Greenwald (@ggreenwald) <a href=\"https:\/\/twitter.com\/ggreenwald\/status\/1354576176761757707\">January 27, 2021<\/a><\/p><\/blockquote>\n<p>Mike Cernovich \u2014<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Media and tech view us as serfs \/ peasants. I&#8217;m at peace with that. I don&#8217;t think it&#8217;s smart of them to treat people this way. I think history says it&#8217;s actually a horrible idea. But I&#8217;m at peace with knowing what they truly think of us. This GameStop thing latest example.<\/p>\n<p>\u2014 Cerno (@Cernovich) <a href=\"https:\/\/twitter.com\/Cernovich\/status\/1354577743694819330\">January 27, 2021<\/a><\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Media and tech view us as serfs \/ peasants. I&#8217;m at peace with that. I don&#8217;t think it&#8217;s smart of them to treat people this way. I think history says it&#8217;s actually a horrible idea. But I&#8217;m at peace with knowing what they truly think of us. This GameStop thing latest example.<\/p>\n<p>\u2014 Cerno (@Cernovich) <a href=\"https:\/\/twitter.com\/Cernovich\/status\/1354577743694819330\">January 27, 2021<\/a><\/p><\/blockquote>\n<p>The post <a href=\"https:\/\/www.thegatewaypundit.com\/2021\/01\/stunning-reddit-shuts-wallstreetbets-subgroup-blames-racism-hate-speech-rookie-investors-general-public-make-money-causing-hedge-funds-go-bust\/\" rel=\"nofollow\">STUNNING: Reddit Shuts Down WallStreetBets Subgroup \u2014 Blames Racism and Hate Speech \u2014 After Rookie Investors in General Public Make Money Causing Hedge Funds to Go Bust<\/a> appeared first on <a href=\"https:\/\/www.thegatewaypundit.com\" rel=\"nofollow\">The Gateway Pundit<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What an amazing story! Reddit shut down its WallStreetBets subreddit page on Wednesday after rookie stock market investors in the general public joined together to purchase stock in targeted &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2181291,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/s.w.org\/images\/core\/emoji\/13.0.1\/72x72\/1f1fa-1f1f8.png","fifu_image_alt":"STUNNING: Reddit Shuts Down WallStreetBets Subgroup \u2014 Blames Racism and Hate Speech \u2014 After Rookie Investors in General Public Make Money Causing Hedge Funds to Go Bust","footnotes":""},"categories":[],"tags":[],"class_list":["post-105001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/s.w.org\/images\/core\/emoji\/13.0.1\/72x72\/1f1fa-1f1f8.png","fifu_image_alt":"STUNNING: Reddit Shuts Down WallStreetBets Subgroup \u2014 Blames Racism and Hate Speech \u2014 After Rookie Investors in General Public Make Money Causing Hedge Funds to Go Bust","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/105001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=105001"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/105001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2181291"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=105001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=105001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=105001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}