Published , by Donovan Erskine
Published , by Donovan Erskine
GameStop’s (GME) stock has dominated news headlines for months now, and much of that noise can be traced back to the subreddits r/WallStreetBets. After organizing and planning to buy GameStop (GME) shares and drive up the price of the stock, the volatility of GameStop (GME) became a key talking point on Wall Street and financial spaces. Every day for several months, the GME thread on the subreddit has been home to discussions surrounding the stock. However, the mods of r/WallStreetBets have announced that today will be the final day of the thread.
The mods made the announcement along with the posting of the daily GME Megathread on April 16, 2021. In the thread, moderator zjz stated “Note: This will be the last daily GME megathread. We encourage you to check out either r/superstonk or r/gme if you're still in GME-all-day-all-night mode. Pls don't be all caveman spongebob tomorrow when this thread isn't here.” They also state that cryptocurrency discussions are prohibited and will result in a ban.
It appears that the moderators are looking to lessen the GME discussions on r/WallStreetBets, as the sub has been hyper-focused on GameStop for several months now. They encouraged users to visit either r/superstonk and r/GME for appropriate discussions. It’s a bit of a controversial decision among users, as GameStop (GME) is what drove the subreddit to nearly 10 million subscribers.
With the backlash they’re getting from the community, it will be interesting to see if the moderators back off of their decision, or stick to their guns. It’s been fascinating to watch the story of r/WallStreetBets evolve over recent months, and it will be equally fascinating to see how this new change impacts things moving forward. For more on the saga of GameStop’s (GME) stock, we’ve got you covered here on Shacknews.