One of the fastest-growing subreddits in 2021 has been WallStreetBets. The subreddit founded in 2012 offers a home for discussion of stock-and-option trading, with many of the users embracing high-risk strategies such as leveraged trading. The traders discussing options on WallStreetBets are often looking to make a quick score through high-risk day trading. The group leveraged its collective power against Wall Street firms in January and February 2021 with its short squeeze moves. To get the job done, members of WSB often use no-commission trading apps like Robinhood. The short squeeze that made WallStreetBets a household name has no given them a platform in precious metals with the release of a silver round and copper round bearing their channel logo. Take a moment to learn about the new WallStreetBets rounds available from Provident Metals.
On the obverse face of the 1 oz Silver Wall Street Bets Round, you will find a replication of the WallStreetBets channel banner and logo from Reddit. The cartoon-like mascot is an individual wearing a suit and tie. He has his hands out to his sides with sunglasses on and slicked hair. In front of him is the Wall Street sign from New York City, as featured in the channel banner, but with the included spray-painted look for the word “Bets” included. Above the figure, you will find the group’s motto of “Buy High, Sell Higher.” Beneath the channel banner symbol at the bottom of the design rocker is the subreddit for WSB, “/r/wallstreetbets.”
The reverse field of the Silver Wall Street Bets Round comes with symbols commonly used by the group and the stock symbols for the brands the traders targeted in the short squeeze. A rocket ship is shown taking off at an angle in the center of the design. Next to this is a depiction of “diamond hands,” a symbol representing the group’s believe in adamantly holding onto stocks despite any changes. Along the lower-right rocker, you will find inscriptions of “999 Fine Silver,” “One Troy Oz,” and “2021.” In the upper-left rocker, there are five stock symbols for “$GME,” “$BB,” “$AMC,” “$NOK,” and “$BBBY.” These symbols represented GameStop, Blackberry, AMC Theaters, Nokia, and Bed Bath & Beyond.
With the release of the Wall Street Bets Rounds, the Blockchain Mint issued 1 oz silver rounds with .999 pure silver content. The rounds have a reeded edge and arrive individually inside of plastic flips. Multiples of 20 come inside of plastic tubes. The release of the Wall Street Bets collection includes a 1 oz Copper Wall Street Bets Round as well.
Jamie Rogozinski founded the WallStreetBets subreddit in 2012 to give average traders a place to commiserate on trading tactics and specific stocks to target. Over the course of nearly a decade, the subreddit has become home to traders who use profane language in discussion boards, adopt aggressive trading strategies, and leverage borrowed capital to make many purchases. The group is particularly famous for its use of slang terminology in referring to its upcoming moves or targeted stocks. These include “stonks” to refer to stocks, “tendies” for gains and profits,” and “DD” when analyzing potential trades. The latter stands for due diligence.
Details of the Short Squeeze
WallStreetBets traders sent a big message to major Wall Street firms in January and February 2021 with short squeeze moves. Wall Street firms had shorted major stocks like GameStop and AMC Theaters, essentially looking to profit if the value of a company fell or continued to fall. As WSB traders started buying up GameStop stocks, the value of the company’s stock began to skyrocket. Between January 22, 2021, and January 28, 2021, GameStop’s stock went up 600%. Starting January 27, 2021, WSB traders initiated a short squeeze on AMC Theaters as well. The moves by WallStreetBets cost major Wall Street firms millions in losses and sent a message about the power of no-commission trading apps.
Buy Your WSB Rounds from Provident Metals
The Wall Street Bets Rounds will soon be available from Provident Metals and are available only while supplies last. You can call us for assistance at 800-313-3315, chat with us live online, or email us directly. Our social media page offers regular updates on products and new arrivals, while our blog offers weekly posts with in-depth looks at new and upcoming products.