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Home / Tips and Tricks / GameStop stock spike lingo: This is what Reddit’s WallStreetBets vocabulary means

GameStop stock spike lingo: This is what Reddit’s WallStreetBets vocabulary means



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Some stocks are up as a result of meme shares. This is why.

Sarah Tew / CNET

Who would have thought a Reddit community could take off a stock? Retailer of video games GameStop’s stock rose to a record high from nearly $ 373 a share on Wednesday, regularly below $ 20 a share this year. Why is this happening now?

Because small investors use Reddit communities, such as WallStreetBets (which has grown by 500,000 users in the last three days), to power “meme shares”, creating short sales and short squeezes. And it’s not just GameStop. Other companies, such as AMC and Nokia, are also affected by the coordinated wave.

No, this does not mean you should drop everything and fully invest in one of these companies. Some call the market manipulation a ‘Ponzi scheme’, and the stock price is likely to fall once the buzz dies away.

In fact, broker TD Ameritrade limited trading in the GameStop and AMC shares Wednesday, and trading app Robinhood followed Thursday, in response to runaway growth. Stock quotes was outside office hours and WallStreetBets restricted access as a result of the activities of the day. The White House is monitoring the situation.


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Part of what’s so unusual about the GameStop stock spike is the vocabulary used to drive the trading action. Elon Musk, founder of Tesla and SpaceX, helped out on Tuesday with a one-word tweet: “Gamestonk.”

What is a stink and what does it have to do with trading? Here’s a sampling of the jargon behind the huge highlights, and what the terms mean:

  • Stonks: An intentional spelling mistake of stocks. Sometimes Meme Man appears when used in a meme (see below).
  • Diamond hands: When a trader is willing to hold his shares or securities for a long time.
  • Missiles: When someone wants a stock price to skyrocket.
  • Hold the line: Holding onto a stock even if it declines in value.
  • “We love the stock”: A meme used for a currently trending stock.
memeguy

Stonks is often associated with Meme Man, in the photo.

Know your meme

There is more information on this how Reddit and Elon Musk caused the GameStop wave. Here is everything you need to know about stock splits and five investment accounts everyone should have. Plus, check out the funniest GameStop Reddit jokes and memes.




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