This one has a bizarre etymology (to say the least). Whether having diamond hands is good or bad will probably depend on the final outcome of the ticker symbol. The term actually indicates risk taking, and is sometimes the folly of stubbornly holding on to a stock or option until the bitter end, even when the ship should have been abandoned long ago. On memes, the phrase is represented with emojis of a diamond and then hands. The term “diamond hands” refers to holding on to a stock or option despite volatility and losses in the confidence that its price will eventually increase. This term originated with an internment meme of a suited man (presumably a trader) standing in front of some numbers and a big orange arrow, all of it titled “stonks.” The meme was a cheeky reference to making bad financial decisions, sort of like someone who cannot even pronounce stocks correctly. If you’re curious in perusing the r/wallstreetbets subreddit, you’ll want to be aware of the slang the community uses within its investing discussions. After that, the number of members exploded. Though it was already almost a decade old, it wasn’t until the GameStop short squeeze of 2021 that the subreddit known as r/wallstreetbets garnered attention from mainstream news media outlets. WallStreetBets was created on January 31st, 2012. Of course, there are plenty of other threads and discussion boards about the stock market on the internet, but few have WallstreetBets’ charisma of 4Chan combined with a Bloomberg Terminal. Wallstreetbets has seen its membership surge in recent weeks and months, to a point where moderators have had to close the forum and only allow new members to come in through a vetting process.
You might say it’s sort of like the back of the Reddit school bus, replete with its own lingo and slang terms.īut at the same time, the incident with GME stock has shown the world that r/wallstreetbets is a force to be reckoned with, even if it’s a place where the hottest buys on the stock market depend on who can make the best memes. Wallstreetbets has also become known for its somewhat immature threads laced with profanity and controversial references, as you might expect from a gathering of younger users conversing about competitive topics like tendies (more on what that means momentarily). The memes and discussion threads on Wallstreetbets frequently inspire highly speculative options trading, much of it leveraged (meaning, with borrowed money-and since many of its members are in their early twenties or thirties, that borrowed money might be, for example, student loans). Many of its members have been described as young retail investors who are not averse to risk, and who may view day trading as an opportunity to improve their financial situation. Put the two together, and you’ve got Wallstreetbets r/wallstreetbets advertises itself as a place to facilitate tongue-in-cheek discussion of the stock market. And as for a Bloomberg Terminal, that’s a piece of financial reporting hardware and software that allows a financial advisor to take a real-time look at the market. Wallstreetbets describes itself as “Like 4chan found a Bloomberg terminal.” For those not in the know, 4chan is an anonymous message board that is frequently the site of humorous imagery (memes, specifically) that has facilitated its own comic and sometimes controversial reputation. However, r/wallstreetbets is nothing like the opinion column of the Wall Street Journal or a roundtable discussion between financial pundits on FoxBusiness. The subreddit Wallstreetbets, also known as WSB and r/wallstreetbets, is a space where stock market investors can talk about (what else) the stock market. Reddit WallStreetBets Slang:Īs you may or may not know, Reddit’s forum is broken into various subreddits, each one dedicated to a particular topic of discussion. Wallstreetbets is an eight million strong forum where members can talk about investing in the stock market. Reddit is a social media platform where members can engage in discussion threads about various topics.
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