WallStreetBets: Positions or Ban

01/28/2021

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by   Christian Boylston, et al.

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r/wallstreetbets (WallStreetBets or WSB) is a subreddit devoted to irreverent memes and high-risk options trading. As of March 30, 2020, the subreddit boasts a usership of nearly 1.1 millions subscribers and self-describes as "if 4chan found a Bloomberg terminal." This paper will utilize Amy Jo Kim's community design principles along with social psychology theory as frameworks to understand how this chaotic, oftentimes offensive community has developed one of the largest and most loyal user bases on the platform. We will further argue that humor plays a vital role in promoting in-group cohesion and in providing an unconventional third place for traders (and thinly veiled gamblers) to seek support from each other in the form of vulgar, yet good-humored taunting.