Social platform and news aggregator Reddit made national headlines in early 2021 for its role in the volatile movement of “meme stocks” popular among “subreddit” user communities like WallStreetBets. While some of the action’s momentum faded in February, Reddit returned to the news only months later, with meme trading back, and WallStreetBets aren’t the only markets moving. Here are some of the most popular investing communities on Reddit, including some you may not have heard of.
Reddit’s largest investment community, WallStreetBets (WSB) has 10.5 million members, with hundreds of thousands of “dissolves” (the private community name of its members) online at any time. This forum formed the genesis of the meme stock community that dominated news coverage in January 2021.
The main features of WSB culture are vulgarity and memes. Over the years, the community has created a distinct language that distinguishes it from others, bringing terms such as “stones” and “tendencies” into the common lexicon. Its lively atmosphere is paired with a free-spirited approach to investing, living up to the “bets” in its name. As one highly rated post put it, “The name of the subreddit is WallStreetBets. Not WallStreet-Long-Term-Hold-Hold-Long-Term-Hold.”
The second largest subreddit community on investing, 2.8 million members of r/stock offer a more sober view of the markets than WSB. Memes are not found anywhere. There are no posts broadcasting gains or losses. Instead, users tend to provide an analysis of companies, ask questions about dividends, or discuss the impact of broader economic conditions. The r/stock community offers a completely different environment than the more popular WSB, attracting another type of Reddit investor.
Similar to r/stock, r/investment attracts a more serious audience than most investment forums connected to Reddit. Instead of memes, r/investment is a place for its 1.9 million members to discuss investor-related news and events.
Although r/investment is very similar to r/equities, the former is broader in scope, as users discuss topics important to the economy as a whole. Analyzing the financial statements of a particular company is a rarity, with a broader focus and increased focus on economic fundamentals.
At r/pennystocks, “astronauts” (members) are looking for gains by investing in less well-known companies in the hope of getting to the moon. Amazon (AMZN) and Apple (AAPL) are largely absent on r/pennystocks, but American Battery Metals Corp. (ABML) was leaning toward greatness. Stocks may be small, but the community is not, with 1.6 million members and growing. Like other investing communities, threads center around stock analysis and company news, but r/pennystocks offers a more comprehensive focus on over-the-counter securities, such as ABML.
A haven for users of the popular online brokerage firm, r/robinhood claims its name for 820,000 investors. The most popular topics on the forum are troubleshooting, and the community stands out for its usefulness in helping members navigate the platform. Memes and jokes about Robinhood and investing in general also characterize the site, but the forum’s interest in helping others makes r/robinhood an essential tool for anyone with the app.
The premier online community for those who have invested in video game retailer and meme stock label, GameStop (GME). Despite having fewer members than other popular forums – at 310,000, which is less than half the size of r/robinhood – r/GME is very active, with over 20,000 users “keeping the line” at any one time. Not surprisingly, the community has adopted the slang of WSB, but it is focused on one company. Its atmosphere is overwhelmingly positive. Members believe there is a massive short squeeze looming, and when the stock drops, they announce that GME is trading at a discount.
Like r/GME, r/amcstock is an affiliate store entirely devoted to a single stock. In this case, it’s AMC’s favorite online, beleaguered theater series. The two communities have a lot in common, with all the memes and slang the Internet can bring together, and they share the same target audience. After all, AMC was one of the companies that launched into the retail frenzy earlier in 2021. With 324,000 members, and 60,000 members browsing its page at times, r/amcstock is the place to go for online investors with a focus on AMC.