Traders may need to find a new game as Reddit momentum – excluding AMC – slows
Retail traders may be making a lot of noise on social media, but there is evidence that their influence over individual stocks is slipping.
The Reddit forum WallStreetBets has become a key part of the stock market this year, with retail traders causing dramatic surges in stocks like GameStop and AMC Entertainment.
However, many of the most high-profile Reddit stocks have retreated over the past week, with the notable exception of AMC. Trading volume has fallen as well, even though mentions of the stocks on Reddit have risen, according to analysis from Bank of America.