To: MulhollandDrive who wrote (167666 ) 1/27/2021 7:55:17 PM From: TobagoJack Respond to of 217823 full weaponisation underway I did not enlist in time your son's membership is worth several million if properly leveragedbloomberg.com Reddit’s WallStreetBets Goes Dark After Fueling GameStop Surge Katherine Greifeld WallStreetBets, the internet forum fueling a frenzy of retail trading, turned itself off to new users after a deluge of new participants raised concerns about its ability to moderate content, a notice on the website said. Shortly after 6:30 p.m. in New York, the WallStreetBets home page indicates that moderators have made the chat private, requiring an invitation to enter. The site had racked up more than 3 million members as day traders plugged companies from GameStop Corp. to AMC Entertainment Holdings Inc., driving massive rallies that have burned hedge funds who were had sold the stocks short. Reaction was swift and painful in stocks favored by the site in recent days. GameStop, up fivefold in three days, tumbled 37% as of 7 p.m. in New York. AMC, which doubled in Wednesday’s cash session, sank 40%. Nokia, the one-time cell phone giant that added 38% in regular trading, gave up more than a third of that. Broader stock gauges seemed unperturbed by the announcement. Futures on the Nasdaq 100 Index remained lower by about 0.8%, weighed down by Tesla Inc.’s poor earnings report and middling results at Apple Inc. and Facebook Inc. The move to limit access to WallStreetBets comes after the dizzying stock rallies attracted the attention of U.S. Treasury Secretary Janet Yellen and President Joe Biden administration’s economic team, according to White House Press Secretary Jen Psaki. Senator Elizabeth Warren also weighed in Wednesday, calling on financial regulators to “wake up and do their jobs.” Going ViralMore than 800,000 new users joined r/wallstreetbets in the last 24 hours Source: Breakout Point, Reddit The Securities and Exchanges Commission issued a statement shortly thereafter, saying that the agency is “actively monitoring the on-going market volatility in the options and equities markets.” Before the subreddit was taken private, there were 3.5 million members of r/wallstreetbets, according to the site. That’s nearly 1.5 million more users than there were just a week ago, according to Breakout Point, a data and analytics firm. Before it's here, it's on the Bloomberg Terminal. LEARN MORE