What is Wallstreetbets (WSB)?

Wallstreetbets also referred to as /r/wallstreetbets or WSB is essentially a decentralized Reddit forum aimed at discussions about options trading and stocks.

Participants of the subreddit typically engage in high-risk day trading as a means of fast enhancing their financial status.

It's worth noting that some members turn to borrow money so they can bet on meme stocks that gain prominence inside the group. Also, words like “stonks” rather than stocks and “tendies” that refer to gains are the usually utilized slang within the community.

Besides, each subreddit is focused on a certain topic and is denoted by /r/ accompanied by the community or topic name, such as /r/wallstreetbets. Furthermore, a subreddit may be thought of as a reinforcement for a certain online group and the postings that are displayed on the social media network.

Recently, there has been an increase in the number of no-commission brokers and mobile trading platforms, both of which have aided in the development of this new online trading environment. Participants in the subreddit, as well as inexperienced retail traders and investors usually do not follow many traditional standards, such as risk management approaches.

Because of the community's concentration on extremely speculative, leveraged options trading, this Reddit thread has a reputation for circulating and inspiring reckless trading tactics.

Moreover, Wallstreetbets is famous due to the community's use of slang and memes, as well as its notoriety for risky trading practices. The Wallstreetbets community had a significant part in the GameStop selloff, which resulted in significant losses for multiple corporations and short sellers in early 2021.