What would it mean for valuation and price discovery and capital allocation? Well … this, right? It would look like this. We have spent the last, like, five years talking about a hypothetical future in which 99% of all stock-market investments are in passive index vehicles. Figuratively speaking, tendies are the financial rewards that follow from a successful bold wager. …įor Reddit’s band of self-styled “autists”-a term of endearment, relatively speaking, that crudely leans into stereotypes surrounding extremely online people-the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”). For anyone who wondered about where the small day traders who made the 1990s so wild went, meet the 2020 version. The do-it-yourself traders of r/WSB are waging a kind of guerrilla warfare in the markets, trying to exploit what they see as weaknesses in the system to move prices where they want them. The board may have added a little froth to Tesla Inc.’s $90 billion rally. went crazy shortly after being mentioned there. Hitherto sleepy companies such as Virgin Galactic Holdings Inc.
I don’t know, here’s Luke Kawa at Businessweek:Įven veteran traders have trouble dismissing a 900,000-user Reddit forum called r/wallstreetbets, or r/WSB for short, whose tips and tactics have shown an uncanny ability to push prices, at least for the short term. But aren’t they mostly in it for the attention? Now they have a Bloomberg Businessweek cover story. Is that not enough? You have won, “posters with handles such as OverthrowYourMasters and yolo_tron.” You have received your tendies of media attention. They are in the business, or at least the hobby, of buying stocks, pumping them up on Reddit, and then, I suppose, profiting.
Now obviously they are in it for the money. I am biased because I work in the media, and use Twitter, but I cannot shake the assumption that the people pumping stocks on Reddit’s r/wallstreetbets board are in it for the attention.
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