Are Investors Losing Interest in Wall Street Bets?

In recent months, news coverage about Reddit / Wall Street Bets (WSB) seems to have declined considerably.

The fact that it’s coinciding with a decline in the stock prices of high-flying tech companies and in particular WSB favorites like Palantir and GME makes me wonder if the forum is losing some of its clout among millennial investors.

Obviously, there’s got to be some disillusionment when investors experience huge losses after following stock market advice they found on WSB.

During the GME craze, many of those Reddit users seemed to relish the opportunity to turn the tables on hedge funds and old money in general. There was also a sense of knowing better and keeping up with the times, especially among the younger crowd. To them it looked like they were beating ‘boomer’ investors who lacked a grasp of modern technology.

Obviously, generational conflict is nothing new. The so-called boomer investors probably behaved the same way during the tech bubble of the late 90s.

That said, there comes a time where everyone has to face reality. The question is are we at that point now?

Are younger investors getting over the popular narrative that tech stocks can only go up and that older investors have been overly cautious?

And if we are, what does it say about the future direction of the stock market?

As a hopeful optimist and stock market investor myself, I hate to think about it but I’m reminded of Robert Shiller’s concept of narrative economics and how narratives play a role in fomenting and ending stock market bubbles.