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GameStop shows rising power of retail traders, says Reddit co-founder

Bloomberg
Bloomberg • 2 min read
GameStop shows rising power of retail traders, says Reddit co-founder
Reddit's outsize influence on GameStop stock is a "culture war of Wall Street versus everybody else."
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Reddit Inc CEO Steve Huffman said on Thursday that the WallStreetBets forum is “by no means perfect but they’ve been well in the bounds of our content policy.”

“With all of our communities that do their best to be good citizens of Reddit, we try to do our best by them as well,” Huffman said on the Clubhouse app. He called the forum’s outsize influence on GameStop Corp stock a “culture war of Wall Street versus everybody else.”

He said anyone who thinks the users of the forum are “idiots” should spend more time reading the discussions. “It’s this idiot swagger that masks what I think is this charming intelligence,” Huffman said.

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