Reddit’s r / WallStreetBets is back after intentional blocking

For the past week, Reddit’s WallStreetBets community has been the center of an epic war between big Wall Street investors and small-scale social media punters. Now he is recovering from his blocked and hidden subreddit, only to be made public again about an hour later. Meanwhile, the Discord chat app has completely banned WallStreetBets. Everything that seems to have scared investors, some of whom disposed of the shares and others who bought, causing the shares of AMC and GameStop to swing wildly.

GameStop and AMC’s shares fell dramatically in after-hours trading just after the whole drama unfolded. They have since recovered somewhat, and the group has tried to establish a new community on Discord.

IT’S OK.

If all of this is confusing, don’t feel bad. These rapid and dramatic movements are taking place amid one of the most dramatic weeks on Wall Street in years. At stake are millions of dollars that small investors working together on social media have earned by taking on Wall Street investors who have bet that GameStop and AMC shares would plummet. Instead, as the stock of the two companies soared, Wall Street investors reportedly lost billions of dollars.

As the drama unfolded with the banning of Discord and the blocking Reddit community, GameStop’s stock fell 32% on Wednesday night trading to $ 218.32 per share, from $ 347.51 on closure. During the day, they more than doubled. AMC’s shares also fell, falling more than 40%, to $ 11.90 per share, after closing at $ 19.90. These shares had risen more than 301% during the day.

Both actions have recovered somewhat and the r / WallStreetBets community is back. If you had taken an hour and a half to watch the new Pixar movie, Soul, you would have lost.

Although GameStop’s stock has skyrocketed in the past few days, analysts and experts say they are doing so because of market peculiarities and not because of the real increase in value for the struggling video game retailer. The same is true of the AMC cinema chain, which warned that it was close to bankruptcy last year.

All of this was not the only bad news for the WallStreetBets community. Its worst community members, who have repeatedly broken Discord’s rules, have banned the group from the platform, the chat app company said in a statement. “Today, we decided to remove the server and its owner from Discord for continuing to allow hateful and discriminatory content after repeated warnings,” said Discord. He added that the ban had nothing to do with any talk of finance or stocks that happened among users of WallStreetBets.