![]() "We do have technology that evaluates social media chatter," Friedman said. NASDAQ CEO Adena Friedman, meanwhile, suggested on CNBC Wednesday morning that shares in these volatile stocks might need to be halted so everyone can catch their collective breath. Stock in cinema chain AMC saw a similar price dip and rally around the same times. The stock bounced back to a price of $291 in the hour following that dip, still significantly below the closing price of $341 at 4pm. Instead, they directed people to for official updates.Īs far as the group's most famous project, GameStop stock dropped precipitously in after-hours trading immediately following the move to take WSB private, going from $316 per share at 6:45 to under $250 per share by 7pm. Moderators also warned of fake Twitter accounts with "wallstreetbets" in their name claiming to speak for the increasingly popular subreddit (now 3.6 million members strong). We blocked all bad words with a bot, which should be enough, but apparently if someone can say a bad word with weird unicode icelandic characters and someone can screenshot it, you don't get to hang out with your friends anymore." WSB mods were also quick to dispute Discord's banning decision, saying that "if you gather 250k people in one spot someone is going to say something that makes you look bad. ![]() Advertisementįurther Reading Gaming the system: How GameStop stock surged 1,500% in nine monthsReddit representatives were not immediately available to respond to a request for comment from Ars Technica, but esports journalist Rod Breslau cited "Reddit admins" who confirmed that they "had no part" in the decision to take the subreddit private. In the hours before the shutdown, a number of users recorded brief snippets of the server's audio chat, which had descended into an indecipherable cacophony amid hundreds of crosstalking participants. Discord welcomes a broad variety of personal finance discussions, from investment clubs and day traders to college students and professional financial advisors." The statement goes on to specifically clarify that the move was not "due to financial fraud related to GameStop or other stocks. Over the past few months, we have issued multiple warnings to the server admin." In a statement provided to the press, the social media service said the WSB Discord server "has been on our Trust & Safety team’s radar for some time due to occasional content that violates our Community Guidelines, including hate speech, glorifying violence, and spreading misinformation. ![]() Further Reading The complete moron’s guide to GameStop’s stock roller coasterThe WallStreetBets subreddit (WSB), widely credited with kickstarting GameStop's epic stock run in recent weeks, was briefly taken private by moderators Wednesday night amid a tsunami of "so many comments and submissions that we can't possibly even read them all, let alone act on them as moderators." Discord also took steps to permanently ban the official WallStreetBets channel, citing moderators for "continuing to allow hateful and discriminatory content after repeated warnings."ĭiscord was the first to act, shutting down the WSB server sometime around 6pm.
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