The GameStop stock news has revealed a new type of lingo being used by the stock market. The stock market language on Reddit, however, seems to be quite different but slightly still the same.
Reddit GameStop stock price
According to an article by MarketWatch, there are still a few terms that are flying across the popular Reddit WallStreetBets that was reportedly responsible for GameStop stock price going up by a huge amount. GameStop wasn't the only stock that skyrocketed but also a number of other companies.
As of Wednesday midday, GameStop's stock was reportedly up by over 1,500% in 2021. However, major brokerage firms like the TD Ameritrade as well as its owner Charles Schwab are now starting to put guardrails in order to control the current buying spree. It was noted by the administration that this was to "monitor the situation" going on with the stock.
Reddit stocks for beginners
The now popular WallStreetBets forum had reportedly over 3.3 million members as of Wednesday and the numbers kept climbing throughout the day. Reddit is popular for using its own language like "newbie" which refers to rookie investors and "boomer" which refers to the older Wall Street establishment.
Tendies
This means chicken tenders which means shorthand for gains, profit, or even money. On reddit, this is sometimes used with the rocket emoji blasting off which signals bullish or upward moving stock.
Bagholder or Bagholding
This refers to a person holding a stock with intention to sell high but keeps on holding it even if the value fell or keeps on falling thinking that the share price will still recover.
Diamond Hands Emoji and Paper Hands
This refers to the people's stomach. Diamond Hands, or the Diamond Hand Emoji usually refer to those that can hold the position while the paper hand refers to those that have to fold or exit early in a heated situation.
YOLO
This acronym stands for "you only live once" but it actually has its own meaning on WallStreetBets. This is used as a verb which usually describes gambling big and playing like there is no tomorrow.
Read Also: Gamestop Stock Forecast 2021: BofA Warns 93% Plunge after 'Extravagant' Surge
How is Reddit affecting the stock market?
Reddit r/WallStreetBets was not the only buzz going on around GameStop, although a lot of the information was conversed within this platform, there was another major figure that directed people towards that thread. The newly richest man in the world, Elon Musk, had shown a glimpse of what was going on before the heat arrived.
As of the moment, popular trading platforms like Robinhood are limiting their investors from being able to purchase GameStop stock. According to an article from CNet, Robinhood is currently allowing "limited buys" on both GameStop and AMC, which are two of the hottest stocks right now which hedge funds are trying to short but investors seem to be holding onto.
Related Article: GameStop Stock Projected to Hit $15B Soon All Thanks to Elon Musk's 'Gamestonk' Tweet!
This article is owned by Tech Times
Written by Urian Buenconsejo
