Learn The WallStreetBets Lingo

in #news2 months ago

Mainstream news channels and media reports are now sharing the WallStreetbets 'lingo' for others to learn.

They've listed terms like stonks, YOLO, chicken tenders, roaring kitty, and others.

Now you will find mainstream news channels like CNBC covering the stocks that get mentioned by this group, along with other finance podcasts and channels.

Just recently the Reddit CEO S Huffman reiterated the importance of users having the ability to remain anonymous while using the platform, by using different aliases without having to give their identities.

He says that this is critical to have this as a part of the platform and without it something like WallStreetBets wouldn't have been possible.

Further he says that the WallStreetBets group has highlighted issues about fairness and opportunity in the financial system as we know it today.

"they’ve managed to raise important issues about fairness and opportunity in our financial system," he added. "I’m proud they used Reddit to do so."

This reddit community has quickly gone from thousands of users in this group to millions all within days.

They saw more than a 10x increase in users once the news about the community went viral.

As the original founder J Rogozinski has pointed out already, if anything the entire experience has been fascinating to watch it all unfold.

"It's the democratization of financial markets. It's giving a voice to the people that didn't previously have one," - Rogozinski.

Even though he might not be a part of the community as a moderator any longer, he still believes it's an important conversation that the world is having right now about finance.

"For too long it's been an invite-only club. And it's been the elites on Wall Street and nobody on Main Street." - Rogozinski

https://www.theverge.com/2021/1/28/22254658/go-read-this-wall-street-bets-creator-interview
https://www.npr.org/2021/01/31/962479849/reddit-wallstreetbets-founder-calls-gamestop-stock-frenzy-a-symbolic-movement
https://www.businessinsider.com/wallstreetbets-fastest-growing-subreddit-hits-58-million-users-2021-1

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