KH321
2021-07-05
One door close, 10 others will open.
Reddit Trading Group WallStreetBets Goes Private: Where Will Retail Traders Go Now?
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They managed to drive the price of GameStop to over $400 while causing massive damage to hedge funds that shorted it, such as Melvin Capital.</p>\n<p>WSB stood together while brokerages like Robinhood (which recently filed for an IPO) banned buying “meme stocks” and driving fear in the market. Coining the phrase “Diamond Hands,” the group has managed to rally together all retail traders who took up trading during last year’s lockdown.</p>\n<p>More recently, the group had pushed <b>AMC Entertainment Holdings Inc</b> (NYSE: AMC) to over $70 in the middle of June.</p>\n<p>Before this shutdown, WallStreetBets had over 10 million members.</p>\n<p><b>What’s Next:</b> Previous members of WallStreetBets will need a new place to go to discourse various trading ideas. 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