The US Securities and Exchange Commission said it was aware of the market volatility and working with fellow regulators to “assess the situation and review the activities of regulated entities, financial intermediaries, and other market participants.“ and we also match that up against unusual trading activity, we will potentially halt that stock to allow ourselves to investigate the situation,” Friedman said on CNBC. “If we see a significant rise in the chatter on social media. Nasdaq chief Adena Friedman said exchanges and regulators should watch whether anonymous social media posts could be driving “pump and dump” schemes. Shares of GameStop, AMC Entertainment, Koss Corp and BlackBerry all dropped at least 20 per cent moments after the shuttering of the forum, highlighting the role it has played in fueling stock rallies that many say have been driven primarily by retail investors.Įarlier in the day, amateur traders chalked one up versus Wall Street as hedge funds suffered heavy losses on short positions in GameStop, and regulators and financial professionals called for more scrutiny of trading fueled by anonymous social media posts. We’ve got so many comments and submissions that we can’t possibly even read them all, let alone act on them as moderators,” read a message from the group’s moderators after Wallstreetbets reopened. “We have grown to the kind of size we only dreamed of in the time it takes to get a bad night’s sleep. The Reddit forum that investors said helped drive surge in Gamestop briefly went private on Thursday morning. They pared those losses around an hour later, when the forum opened back up. Shares of GameStop and other companies tumbled in extended trading after Wallstreetbets, a discussion forum popular with retail traders on the Reddit website, briefly turned invitation-only. In appropriate cases the administrator of this forum may also report violations to the proper regulatory agencies or bodies.A slugfest between Wall Street and Main Street took an unexpected turn late on Wednesday (Thursday AEDT) after moderators of a stock trading forum that has helped fuel massive rallies in the shares of GameStop temporarily closed its doors. Your failure to comply with these rules may result in your permanent banishment from this forum. By continuing to participate in this forum you are deemed to have agreed to comply with these rules. You must follow the rules listed here to participate in this forum. Resources WSB Glossary / Terms WSB Futures Guide WSB Options Trading Guide WSB Brokerage Guide WSB Money Management Guide Subreddit Rules Forex has long trading hours like futures but does not have the tax benefits. Forexįorex lets you bet that a currency will rise or fall compared to another currency. Futures are what you want.Ĭheck our WSB Futures Guide to learn a bit more about them and clear up some common misconceptions. If you're trading SPY options you're doing it wrong. Options are like lottery tickets in that you can pay a flat price for a defined bet that will expire at some point.Ĭheck our WSB Options Trading Guide for more information Option Strangle Trading Guide Futuresįutures are the best way to trade for most serious day traders. If you want to know what an ETF is we've got you covered. StockĪsk your Grandpa, you want options or futures. You can trade stocks/options, futures, and forex. There are a lot of things you can trade to use the money you have to make more money. Here's the WSB Brokerage Guide What do I trade? You'd like to pay as little as possible while getting benefits like the charting you need, a mobile app, reliability, etc. To help us moderate, we've increased minimum requirements to submit posts and comment. We've grown much faster than anticipated. Please make sure all comments and submissions adhere to the content guidelines Why are my posts and comments being removed? Or, realistically, a place to come and upvote memes when your portfolio is down. r/wallstreetbets is a community for making money and being amused while doing it.
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