Profitable Day Traders Reddit

Profitable Day Traders Reddit – In January 2021, something interesting happened for the first time in history. Social media users united and began targeting the companies Wall Street hated the most. After that, companies like GameStop, Blackberry and Nokia came together, resulting in one of the shortest sales of all time.

In this article, we look at how you can use Reddit and other social media platforms in day trading.

Profitable Day Traders Reddit

Reddit is a major social media site that started in 2005 and was acquired by magazine publisher Conde Nast. The company has raised more than 550 million dollars at a cost of more than 3 billion dollars. This platform has more than 300 million active users from around the world.

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Reddit is quite different from other social media platforms like Twitter and Facebook. It is unique because it focuses on content sharing and user interaction. In it, people follow groups they like and participate in their comments.

Trading subreddits are some of the most interesting communities on the web. And the information you will find on it is different as it is many: tips to increase the efficiency of your system, news from different sources that can help you analyze security, and discussions where users try to remove myths, show their theories. and arrive at the commercial truth.

That’s really cool and all, but like everything else, reddit also has a dark side. These are trolls, spammers and even scammers trying to bend the rules and mess with new members. Just like any other social network, remember to avoid shady guys.

It’s not always easy to make healthy food, like. For example, a watch list or a list of accounts to follow on Twitter. But the amount of information on the Internet is very high, and if filtered properly, it can prove to be a valuable source of data.

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Because of this, we recommend starting with these channels and then do your research within the subreddits themselves. The subreddits in this list are ordered by total number of members, from most to least.

GameStop is an old-school company that sells computer and video games. The company has been in decline for years as more people focus on cloud gaming. His income has dropped from $940 million in 2011 to $550 million in 2020. It has also gone from a profit of more than $400 million to a loss of more than $275 million.

As a result, GameStop’s stock price has declined significantly over the years as many shareholders reject the company. It has also been pressured by short sellers who believe the shares are expensive and will fall.

It’s easy to see why GameStop failed. While gaming has continued to grow over the years, the truth is that many people have avoided GameStop. Instead, they chose to download games from popular stores. Also, with Google Stadia, there is a common transition from physical games to the cloud.

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Therefore, in January 2021, disappointed in Wall Street, day traders on Wall Street Bets (WSB) and the Day Trading forum began to pump some of the most discounted companies. GameStop was one of them.

As a result, the once dull stock became a market favorite, rising from under $20 to over $475. Its market value reached more than 25 billion dollars.

After the Wall Street bet, many short sellers went into a short squeeze. A squeeze occurs because the maximum loss that can be incurred is not realized when the stock is sold short. On the other hand, if you buy a stock, the maximum loss you can make is zero.

GameStop wasn’t the only company targeted by Wall Street bets. In fact, these companies have been given the name known as meme stocks. Usually, this means companies whose share price is influenced by the media.

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In fairness, the concept of meme stocks is still relatively new. In fact, many experienced traders were surprised when companies like GameStop and AMC became the talk of Wall Street.

The idea of ​​meme stocks is still new. In this article, we looked at how the social media frenzy of Wall Street betting destroyed the world of investing as we know it. We also looked at how to trade these stocks and some of the risk management strategies you can use to reduce risk.

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