GameStop stock surge lingo: Here's what Reddit's WallStreetBets vocabulary means
Here are some of the slang terms that are part of a movement that's assisting in driving the price of some stocks.
Katie Teague March 19, 2021 7:47 p.m. PT
Katie is a Writer at CNET, covering all things how-to. When she's not writing, she enjoys playing in golf scrambles, practicing yoga and spending time on the lake. See full bio 2 min read
Reddit's community,WallStreetBets, is still assisting in the rise ofGameStop's stock, which is currently sitting at $272 per share and even hit an all-time high last week.Reddit users are battling it out with Wall Street to keep GameStop's stock prices soaring while Wall Street expected a crash. Small investors are using Reddit communitiesto drive "meme stocks," causing short sales and short squeezes. And it's not just GameStop. Other companies, like AMC and Nokia, have also been affected by the coordinated surge.
No, this doesn't mean you should necessarily drop everything and fully invest in the stock of the moment. Some are calling the market manipulation a "Ponzi scheme,"and the stock price will likely even out once the hullabaloo dies down.
In fact, broker TD Ameritraderestricted trading of the GameStop and AMC stockson Jan. 26 and continues to post an advisory note to clients about market volatility. Trading app Robinhood followed suit on Jan. 27 in response to the runaway growth -- the company got itself into trouble by restricting stock trades and will be closely reviewed by the SEC (It's currently limiting buys on AMC and GameStop stocks). The White House has said it's monitoring the situation.
Video: What does GameStop's skyrocketing stock have to do with a subreddit?
Part of what's so unusual about the GameStop stock spike is the vocabulary that's been used to drive the trading action. Elon Musk, founder of Tesla and SpaceX, helped fuel the activity with a one-word tweet on Jan. 26: "Gamestonk."
What's a stonk, and what does it have to do with trading? Here's a sampling of the lingo behind the enormous highs, and what the terms mean:
- Stonks: An intentional misspelling of stocks. Sometimes features Meme Man when used in a meme (see below).
- Diamond hands: When a trader is prepared to hold onto their stocks or securities for a long time.
- Rockets: When someone wants a stock price to skyrocket.
- Hold the line: Holding on to a stock, even if it goes down in value.
- "We like the stock": A meme used for a currently trending stock.
Stonks is often associated with Meme Man, pictured. Know Your Meme
If you do decide to dive into the stock market -- and we're not advising you in either direction -- here are sometop tips about investing, and somerobo-advisors that can help you. In addition, here's more information about how Reddit and Elon Musk sparked the GameStop surge. Here's everything you need to know about stock splits and five investment accounts everyone should have. Plus, check out the funniestGameStop Reddit jokes and memes. First published on Jan. 27, 2021 at 12:18 p.m. PT.