Tesla Inc. TSLA CEO Elon Musk expressed his disappointment with Discord after the platform took down WallStreetBets from its platform.
What Happened: “Even Discord has gone corpo …,” the world’s richest person said in a tweet late Wednesday.
Discord had taken down WallStreetBets earlier in the evening, saying the community continued to allow hateful and discriminatory content despite repeated warnings.
The company said the action didn’t have any relation to WallStreetBets’ role in the surge of GameStop Corp.’s GME stock.
WallStreetBets moderators described the Discord action as “pretty unethical.”
“I am not impressed with them destroying our community instead of stepping in with the wrench we may have needed to fix things, especially after we got over 1,000 server boosts,” one of the group moderators said.
See also: How to Invest in Tesla Stock
The community also went briefly private on Reddit as it looked to ramp up moderation and avoid a similar fate on the platform as Discord.
“We've got so many comments and submissions that we can't possibly even read them all, let alone act on them as moderators,” u/zjz, a community moderato, added.
Why It Matters: Musk had earlier touted support for the WallStreetBets community on Tuesday evening, sending the stock soaring further.
Gamestonk!! https://t.co/RZtkDzAewJ— Elon Musk (@elonmusk) January 26, 2021
GameStop, BlackBerry Ltd. BB, Nokia Oyj NOK, AMC Entertainment Holdings Inc AMC and other stocks seeing the short-squeeze interest of the Reddit community tanked in the after-hours session Wednesday after Discord’s action.
Price Action: GameStop traded 16% lower at $292 after a 134.84% surge during the regular session.
BlackBerry tanked 9.8% at $22.6 after a 32.6% spike during regular hours.
Nokia traded 9.5% lower at $5.93 after a 38.5% surge during the regular session.
AMC shares tanked 26.6% after a 301.21% surge during the regular session.
Photo courtesy: Forbes via Wikimedia
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