The GameStop madness In late January, Wall Street forced retail investors to pay more attention than ever before.
The r / WallStreetBets community piled into the video game trader’s stocks and options, triggering a brief squeeze and leaving short sellers enormous losses.
As a result, Wall Street and the news outlets delved deep into the subreddit to understand how this happened. WallStreetBets’ unique blend of self-deprecating, camaraderie and humorous humor that has been captured and identified by the American public.
“In the way they define themselves, they set up ‘this is who we are’ and that can bring people in,” said Ryan Milner, professor of communications at the College of Charleston. “The collectivism on WallStreetBets really has a power.”
Here’s an explanation of why these collective actions are becoming increasingly common, the role memes play in these situations, and what happens next with retail investments.