Finder makes money from featured partners, but editorial opinions are our own.

4 trading chat rooms to watch as Redditors confront Wall Street

Are internet message boards the new trading floor––and should retail investors be wary?

Meme stocks have proven their capacity to cripple hedge funds and take Wall Street by storm. But are they actually worth investing in? Here are four trading chat rooms to keep an eye on as meme stocks make headlines.

Meme stock saga: Redditors vs. Wall Street hedge funds

In January, GameStop’s stock rose 1,625%, according to Bloomberg. And it wasn’t the only stock to pop. AMC and Nokia also saw dramatic gains, and then all fell back — a market-impacting swing organized and executed by so-called meme stock traders

So, how did these traders orchestrate market swings that cost the hedge funds that shorted GameStop and similar stocks billions? Reddit. Or more accurately: a subreddit called r/wallstreetbets.

What are meme stocks?

The stocks targeted by WallStreetBets Redditors have been appearing in news headlines under the moniker meme stocks. But the name is far from new. Meme stocks have been flitting across Reddit forums for years and have recently captured the public’s attention via the GameStop short selling throwdown.

For the uninitiated, meme stocks are stocks made popular via social media or investing forum. They tend to be volatile and gain traction not because of their inherent growth potential, but because they’ve somehow captured the attention of retail investors.

More often than not, meme stocks stand as something of an inside joke among investors that frequent these online forums. Whether the stock has any inherent merit seems to be beside the point. But if recent events are any indication, meme stocks — with the right momentum — have the potential to shift the market. And it all comes down to chat room investing.

4 trading chat rooms to watch

The market is changing, and with it, the way people invest. As retail investors take to online brokerages in droves, online chat rooms are becoming the increasingly popular forum for investors to swap strategy, ideas and market news.

If you want to stay ahead of the next meme stock trend, explore the following trading chat rooms.

1. Reddit

Given the recent news, it should come as no surprise that Reddit makes this list. And for a demonstration of what type of power Redditors wield, you need look no further than GameStop’s stock — a power play orchestrated by the subreddit r/wallstreetbets.

Reddit is a network of social communities organized by forums called subreddits. Under the r/investing/ subreddit, you’ll find millions of Redditors discussing everything from company mergers to deep dives on individual stock performances.

2. StockTwits

StockTwits is a social media platform designed for investors. It’s free to create an account, and once signed up, you can browse message threads by numerous categories that include charts, equities, forex, futures and more.

It’s essentially Twitter for trading news, standing over 3 million members strong with 5 million messages exchanged monthly.

3. TechBud Solutions

Are you a fan of Facebook? Try TechBud Solutions: a peer-to-peer Facebook group focused on helping investors gain knowledge, trade strategies and discuss pertinent market news.

It’s a private group, so you’ll need to request to join. Once approved, you’ll gain access to the entire TechBud Solutions community — now sporting over 300,000 members. You can post questions, respond to discussions and review archived threads — all from the comfort of Facebook.

4. Warrior Trading

If you’re willing to shell out a monthly fee for access to daily watchlists, streaming stock scanners and daily commentary from top Warrior Trading investors, you may want to give this platform a look.

Access to the Warrior Trading chat room doesn’t come cheap — you’ll pay a whopping $197 monthly — but that’s because the chat room feature is only accessible through one of Warrior Trading’s education packages. If you’re looking for a structured learning environment, this platform may be for you.

The bottom line is that regardless of what you encounter on a message board, you’ll need a brokerage account to invest. And while there are plenty of opportunities to learn from these online forums, be wary of misinformation and do your due diligence before executing any trades.

Investing in social media stocks

Compare trading platforms

1 - 6 of 6
Name Product CAFST Finder Rating Available Asset Types Stock Trading Fee Account Fee Signup Offer Table description
Interactive Brokers
Finder Score:
★★★★★
4.2 / 5
Stocks, Bonds, Options, Index Funds, ETFs, Currencies, Futures
min $1.00, max 0.5%
$0
N/A
Winner for Best Overall Broker in the Finder Stock Trading Platform Awards.
CIBC Investor's Edge
Finder Score:
★★★★★
3.7 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, Precious Metals, IPOs
$6.95
$0 if conditions met, or $100
N/A
An easy-to-use platform with access to a variety of tools to help you trade with confidence.
Moomoo Financial Canada
Finder Score:
★★★★★
3.9 / 5
Stocks, Options, ETFs
$0.014/stock
$0
Enjoy 6% cash rebate plus $2,200 in trading perks
Trade US stocks for up to 90% less and access free real time stock quotes and level 2 market data. T&C's Apply.
RBC Direct Investing
Finder Score:
★★★★★
3.8 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $9.95
$0 if conditions met, otherwise $25/quarter
N/A
Enjoy no minimum trading activity requirements and pay just $9.95 per trade or $6.95 if making 150 trades per quarter.
Questrade
Finder Score:
★★★★★
3.9 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, Forex, GICs, Precious Metals, IPOs
$4.95 - $9.95
$0
N/A
Opt for self-directed investing and save on fees or get a pre-built portfolio to remove some of the guesswork.
Qtrade Direct Investing
Finder Score:
★★★★★
3.6 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Get 1% cashback or more, a $100 sign-up bonus & unlimited free trades until December 31, 2024. Use code SUMMERBONUS2024.
An easy-to-use platform with access to powerful tools and a wide selection of investment options and account types.
loading
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.

More on investing

Shannon Terrell's headshot
Editor

Shannon Terrell is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in personal finance. Her writing and analysis on investing and banking has been featured in Bloomberg, Global News, Yahoo Finance, GoBankingRates and Black Enterprise. She holds a bachelor’s degree in communications and English literature from the University of Toronto Mississauga. See full bio

's expertise
has written 48 Finder guides across topics including:
  • Share trading
  • Robo-advisors
  • Merchant services

More guides on Finder

Ask a question

You must be logged in to post a comment.

Go to site