Reddit Investor Message Board Pushing Stocks Around - Bloomberg Buisnessweek

A Bloomberg Buisnessweek article discussing a 900,000-user Reddit forum called r/wallstreetbets where retail investors are pushing stocks like Virgin Galactic Holdings (NYSE: SPCE) around is getting a lot of buzz on Wall Street today.

From the article:

"History hasn’t been kind to people claiming to have a magic hand. The latest sell-off, driven by a new wave of coronavirus fears, shows how quickly markets can turn on you. But even veteran traders have trouble dismissing a 900,000-user Reddit forum called r/wallstreetbets, or r/WSB for short, whose tips and tactics have shown an uncanny ability to push prices, at least for the short term. Hitherto sleepy companies such as Virgin Galactic Holdings Inc. and Plug Power Inc. went crazy shortly after being mentioned there. The board may have added a little froth to Tesla Inc.’s $90 billion rally."

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