<story><title>“WSB veterans know that they&apos;re making a suicide charge for the memes”</title><url>https://old.reddit.com/r/AskReddit/comments/l7bl3z/brokers_of_reddit_how_crazy_is_it_where_you_work/gl64yau/</url></story><parent_chain><item><author>dd_roger</author><text>I think most legacy users from WSB know very well what they are doing.&lt;p&gt;I&amp;#x27;ve been on this sub for 5 years and it has always been so that everytime the wsb hivemind finds a good deal it gets media attention and the number of clueless users&amp;#x2F;investors skyrockets. But people who stick around outside of these short periods under the spotlights know very well what they are doing despite the memes.&lt;p&gt;I don&amp;#x27;t believe in the theory that there are few people manipulating the entire sub for a pump and dump, rather the entire sub (the few tens of thousands regular active users) knew it was a pump and dump. That this story attracted the attention and money of thousands of clueless newbies is to be blamed on people that reported on it carelessly (medias, celebritites, etc.), not on the people who were doing their things on an internet forum expecting nothing out of it.</text></item></parent_chain><comment><author>JamesSwift</author><text>This was a unique setup for a lot of reasons. It started purely as a value play, then dynamically morphed into a growth play _and_ an attack on the shorts based on technicals. Once the price broke ~30 it then escalated into a full on short-attack and ultimately became pump-and-dump (in my opinion). The whole thing was fluid though, and its important to understand that the initial snowball was formed on the back of fundamentals analysis and through a lens of value investing, so you had plenty of &amp;quot;true believers&amp;quot; gathering together to form the initial crowd attacking the shorts.&lt;p&gt;Once it became clear the momentum was dead (i.e. when brokerages forbade buys) a lot of the &amp;quot;in the know&amp;quot; crowd had already planned their exit and took it. The only reason it hasnt plummeted to ~40$ at this point is that there were a lot of &amp;quot;true believer converts&amp;quot; picked up along the way that are now stubbornly bagholding in disbelief. This is where the _real_ pump and dump starts to occur, because this whole crowd is now on the hook for massive losses unless they can recreate the initial rise.</text></comment>
<story><title>“WSB veterans know that they&apos;re making a suicide charge for the memes”</title><url>https://old.reddit.com/r/AskReddit/comments/l7bl3z/brokers_of_reddit_how_crazy_is_it_where_you_work/gl64yau/</url></story><parent_chain><item><author>dd_roger</author><text>I think most legacy users from WSB know very well what they are doing.&lt;p&gt;I&amp;#x27;ve been on this sub for 5 years and it has always been so that everytime the wsb hivemind finds a good deal it gets media attention and the number of clueless users&amp;#x2F;investors skyrockets. But people who stick around outside of these short periods under the spotlights know very well what they are doing despite the memes.&lt;p&gt;I don&amp;#x27;t believe in the theory that there are few people manipulating the entire sub for a pump and dump, rather the entire sub (the few tens of thousands regular active users) knew it was a pump and dump. That this story attracted the attention and money of thousands of clueless newbies is to be blamed on people that reported on it carelessly (medias, celebritites, etc.), not on the people who were doing their things on an internet forum expecting nothing out of it.</text></item></parent_chain><comment><author>helen___keller</author><text>&amp;gt; this story attracted the attention and money of thousands of clueless newbies&lt;p&gt;As an exercise in this theory earlier today I looked up the profile for 5 or 6 of the top posts on the subreddit advocating for &amp;quot;diamond hands&amp;quot;, and about half of them made their first post on WSB within the past 5 days. It&amp;#x27;s very clear that the users going down with the ship are not the same users who pumped it up for massive profits in the first place.</text></comment>