Meme-Investments fall as Wall Street laughs on Reddit wall

The most popular posts on the Wallstreet Reddit page were centered around the besieged citadel of the meme-stock revolution. The meme depicts three smiling Wendy’s employees saying “Welcome back to work, Diamond Hands.”

Diamond Hands refers to a person that holds a foolish investment regardless of price, discounted cash flow analysis, or the requests of loved ones to pursue a different hobby. Throughout the pandemic, this description applied to several Redditors laughing at the meme. The joke refers to meme stocks such as Gamestop and AMC suffering heavy losses and that these diamond-handers must now return to employment in menial occupations.

THE most popular post today on r/wallstreetbets, the besieged citadel of the meme-stock revolution, was a meme depicting three smiling Wendy’s employees saying “Welcome back to work, ‘Diamond Hands.’”

There have been more memes on the Reddit wall regarding the fall of meme-stocks and the consequences these pseudo-investors must now face. It is interesting to note how memes such as these reflect the psyche of retail-investing as institutions such as Wall Street and the Fed retaliate against the public. While this scenario was simply a fun way for some to spend their money and watch as the stock markets act irregularly, others have made life-altering decisions that may have ended up poorly.

Source: Business World