![]() He also authored a book on this topic, entitled WallStreetBets: How Boomers Made the World's Biggest Casino for Millennials Profiles. “Since 2008, there’s been some distrust ,” Jaime said. The other major shift that has occurred in the financial world in the past eight years is a “cultural shift.” In other words, “pretty much anybody could start participating in the market.” ”You See Some Very Outlandish Things Take Place, You See Some Very Insightful Things Take Place” on The r/WallStreetBets Forum But, as time progressed, we started to see more and more brokers come into the scene, more and more financial tools,” including ETFs, stock options, and fractional share purchases. Indeed, “there was a lot more variety they were internet-based, and it was relatively simple to get started, not nearly as simple as it is today you still had to fill out paperwork and sign it and wait several days to fund the account and things of that nature. “They still charged commission for making stock trades and stock option trades, but they were much cheaper relative to what they were previously.” “When I got started, we were in the early stages of these discount brokers,” he said. Jaime explained that “what’s caused a lot of this growth” can be traced to “a couple of things,” including “access to financial markets.” Increased Access to Capital Markets Has Slowly Been Changing the Financial Landscapeīut, what catapulted r/WallStreetBets from a meme-heavy group of retail traders into the center of a global movement? “I’m not involved in the subreddit, at least I have all the social media accounts (Youtube, Twitter, Instagram, et cetera). Now, he is not actively involved in the subreddit: “I’m watching from afar,” Jaime said. Jaime was an active moderator in the forum from the point that he created the group in 2012 until April of 2020, “so, I’ve gotten to see it go through every possible growth stage,” he said. “I started the group in 2012, and it started growing and getting more attention it was doubling every year in size pretty consistently throughout the past few years.” How did the group get to this point? “The mechanics of it was simple,” Jaime said. What’s happened this past week is absolutely not something that I would have ever anticipated.” We have been in the news in the past for some relatively high-profile things that had happened, but it was still very much isolated to the world of finance. “I had a hope deep-down that at some point, the types of things that were going on in WallStreetBets would generate some type of conversation. Do this now.We asked Jaime whether he thought that the r/WallStreetBets forum would “No. It doesn’t matter if you have $500 in savings or $5 million. Why Everyone Is Investing in 5G All WRONG On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. GameStop’s Huge Squeeze Sets Up an Intriguing Bullish Options Trade.GameStop Stock Is No Longer a Short Squeeze – So What’s Left?.GME Stock: Great for Day Trading, But a Non-Starter Otherwise.Catch up on the most recent GME news from below. ![]() While the stock is down from its high of nearly $350 per share in January, there’s no denying the effect that Reddit traders have had on it. It quickly grew to more than just that with some of the forum’s investors holding the stock no matter the cost. ![]() GME stock was targeted by investors on the r/WallStreetBets subreddit late in January as a short squeeze. Of course, this is just a continuation of the ongoing saga of GME stock and r/WSB. It’s also worth noting that GME stock has soared 1,128.2% higher since the start of the year. Shares of GME stock are currently still above yesterday’s close with a 5.3% increase. ![]()
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