Reddit's role in the GME saga
- Due to its size and discussion-based format, Reddit played a not-insignificant role in the GME saga
- Originally, DeepFuckingValue posted on the Wallstreetbets ("WSB") subreddit, and this is where most of the momentum built that led to the sneeze
- Eventually, GME shareholders moved to different subreddits, notably Superstonk
- The moderators of these large and influential subreddits answer only to the Reddit admins. There is virtually no moderator accountability afforded to the actual subreddit participants.
- While Reddit remains a space where GME shareholders continue to share information, with persistent censorship and arbitrary rules and boundaries, many GME shareholders are consequently using alternative social media platforms such as X.com and Discord
- In 2021, Fidelity, a major Wall Street market participant, became a major investor/owner of Reddit, and is currently the single largest owner of Reddit at around 10% ownership.
- March 20, 2024: Reddit becomes a publicly traded company, stock ticker RDDT
GME shareholders have faced numerous instances of censorship on Reddit.
- In November 2022, Wallstreetbets permanently banned GameStop & GME as a topic of discussion. You can post there about any of the thousands of stocks in the market, but not GME.
- Starting in late 2022, the moderators of the Superstonk subreddit started increasing censorship of various topics of discussion in that subreddit, for example DRS vs DSPP. Many long term GME community members have been banned from Superstonk.
- Superstonk and r/GME ban the website DRSGME.org
- Reddit has a site-wide ban on the domain Wallstreetonparade.com
- Some former members of Superstonk started a new subreddit, r/DRSyourGME. In June 2023, some GME shareholders of the DRSGME.org group travelled to GameStop headquarters in Grapevine Texas to view the stockholder list and collect shareholder data. Those shareholders subsequently shared their data in the r/DRSyourGME subreddit. Several days later, Reddit permanently banned that subreddit amidst false and unsubstantiated accusations of sharing private information and doxxing. The DRSGME.org group subsequently started their own Lemmy server (now defunct), as well as The DRS Discord server. Superstonk mods banned the word 'lemmy' and permanently bans anyone who says a forbidden word.
- In November 2023, Reddit permanently banned the r/thePPShow subreddit for criticizing a (now former) moderator of Superstonk.
As interest in GME grew on Wallstreetbets, eventually GME shareholders sought new places that were more appropriate for discussions specifically about GME.
Over the course of time, Superstonk emerged as the predominant GME subreddit, and eventually formed its own culture, and was highly active through 2021 and 2022.
Superstonk is where DRS originally gained widespread attention among GME shareholders.
See Superstonk
Wallstreetbets is a large and influential subreddit, and a place where much of the modern GME saga originated.
Reddit's highest upvoted post of all time, titled "Times Square right now", was made in Wallstreetbets on January 30, 2021, pertaining to GME during the peak of the sneeze.
Since November 2022, all talk of GME has been permanently banned from that subreddit. Post on r/wallstreetbets, "WSB is now a GME-free zone" video call on YouTube
The primary moderator of Wallstreetbets, u/opinion_is_unpopular, once made a post on gme_meltdown titled: "Some pictures from Citadel's Disney retreat! No expense spared!", suggesting that this individual is an employee or insider at Citadel
The r/gme_meltdown subreddit was created on February 1, 2021, shortly after the peak of the sneeze. This subreddit exists to push cynical and condescending narratives about GME and GME shareholders.
Ostensibly, the participants of this subreddit have no GME position themselves, long or short, yet evidently have strong, persistent, negative feelings towards GME despite having no apparent actual financial position in GME.
Another possibility is that the participants of this subreddit do in fact have a bearish financial interest in GME, e.g. they may be short, yet are pretending not to have such a position. Given the nature of the ongoing conflict over GME, it cannot be ruled out that a subreddit that continues to push bearish GME narratives and anti-GME FUD in the interest of that faction against GME is actually being operated by that very same faction.
The r/GameStop subreddit apparently exists for employees of GameStop, particularly employees at retail stores, to discuss their job and the company that they work for. This typically involves a significant amount of complaining or otherwise negative sentiment, for example celebrating the fact that they've quit.
The subreddit existed long before the GME saga began, so it's original purpose is indisputably not associated with the modern GME saga.
The r/GameStop subreddit permanently bans any individual that talks about GME stock in that subreddit.
- As the largest owner of Reddit, Fidelity has some amount of influence into Reddit and uses this to maximize their self-serving financial interests.
- Fidelity has demonstrated awareness and contempt of GME shareholders that hold shares through DRS
- Evidence exists that indicates that a now-former moderator of Superstonk (u/goldielips) was a former employee of Fidelity.
