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WallStreetBets Switches To A Private Forum, Comes Back Online To Public An Hour Later

WallStreetBets Switches To A Private Forum, Comes Back Online To Public An Hour Later

The place that describes itself as "like 4chan found a Bloomberg Terminal" has gone quiet... publicly at least.

Editor's update: The forum came back online for the public around 8 p.m. EST.

The Redditt community behind WallStreetBets has made a big name for itself over the past week, helping push GameStop (NASDAQ: GME) to skyrocket more than 1,500%. Several other stocks like Blackberry (NYSE: BB) and AMC Entertainment (NYSE: AMC) have also seen massive gains over the past few trading sessions.

On Wednesday evening, r/WallStreetBets was taken off of Discord's service.

"Today, we decided to remove the server and its owner from Discord for continuing to allow hateful and discriminatory content after repeated warnings," Discord said in a statement, according to The Verge.

Around the same time as The Verge's report hit, r/WallStreetBets became a private forum.

See Also: Wall Street Turbulence Catches Attention Of White House, Regulators

"To be clear, we did not ban this server due to financial fraud related to GameStop or other stocks," the statement read. "Discord welcomes a broad variety of personal finance discussions, from investment clubs and day traders to college students and professional financial advisors. We are monitoring this situation and in the event there are allegations of illegal activities, we will cooperate with authorities as appropriate."

The aforementioned stocks, among others, were all sharply lower in Wednesdy'ss after-hours trading session. GameStop and BlackBerry were down about 26%, while AMC was down about 33%.


Related Articles (BB + AMC)

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