REDDIT WALLSTREETBETS LINGO MOVIE

Rogozinski was raised there in Mexico, then educated in America, studying economics and electrical engineering at the University of Illinois’ Urbana-Champaign campus. “And he uploads videos on Twitter of him going around, hugging, kissing people to show that it's fine.” (As with investing, hindsight is everything: eight months later, López Obrador would announce he’d contracted covid.) “He had like, a vigil prayer ceremony so they can make this virus go away,” Rogozinski said, fuming.

Rogozinski had already secluded himself, his wife and twin boys away in their gated-community home and was stewing about what he saw as the lackadaisical response from the Mexican government and President Andrés Manuel López Obrador. It was the end of last March, and investors were struggling to contend with the economic and political turmoil of the coronavirus pandemic’s early days. “And to take that money and turn it into more money.”Īs he was saying those words, the financial markets were also convulsing, though not from any action taken by WallStreetBets. “A lot of people are looking for a good buying opportunity,” Rogozinski said several months ago, explaining the draw of WallStreetBets. But perhaps the best way to get a sense of WallStreetBets-and what it might do next-is to better understand Rogozinski, the guy who got all this going, and why he was recently exiled from his own creation. And as starkly evidenced by the GameStop drama, they relish the ability to stick it to the Establishment. They like to speak in profane bro-code, using terms like “faggots delight” (an out-of-the-money option), “tendies” (trading gains equated to the delight of consuming chicken tenders) and “YOLO” positions (a risky bet made since “you only live once”). They’re there to trade short-term securities, mostly stock options and other risky derivatives. Judging by what they post there, they do share some basic characteristics. Most of the users on the Reddit group deliberately keep their identities anonymous.

In some ways, it’s hard to know much about it. While authorities have yet to take any direct steps against the Reddit traders, Robinhood, a popular broker among young investors, decided it would, and on Thursday, Robinhood limited its customers’ ability to trade Gamestock and AMC.Īnother consequence: a lot of questions raised about what exactly WallStreetBets is. Everyone seems to be rapaciously following it, even the White House, which said on Wednesday the administration and Treasury Secretary Janet Yellen were monitoring the situation. The Reddit-based sieges have been the week’s predominant financial news story.

REDDIT WALLSTREETBETS LINGO MOVIE

Buoyed by their GameStop success, WallStreetBets has already turned its attention to several other stocks, piling into AMC, the movie theater company, and BlackBerry, catapulting those shares too. There’ve been some immediate consequences.

Reddit wallstreetbets lingo