Anyone who sold as GME stock price rose was derided as having paper hands and not having the determination to short squeeze the Wall Street hedge funds or in Reddit-speak, not having the conviction to go to the moon. During the GameStop saga, Redditors were urging to have diamond hands and not paper hands. Unlike how most investors and traders would think, selling at the top is antithesis to WallStreetBets (WSB).

This can be selling when the price drops and selling when the price is high and starts to dip. On the flip side, paper hands (or ) is a derogatory term that refers to someone who sells under pressure. Seen in a negative light, this can also mean a hard-headed stubbornness to let go of a stock or asset in spite of its collapsing value, risks or losses.Īs seen in Elon Musk’s tweet, “Tesla has ” is interpreted by most people as Tesla’s intention to continue holding their bitcoins ( estimated to be around 42,000 bitcoins) despite a plunge of almost 50% from a high of US$58,000 on to a low of $30,000 on. This is likely to be in reference to diamond’s unyielding material strength. Popularised by r/wallstreetbets, diamond hands (or more commonly depicted in emoji-form as ) refers to someone who has high risk tolerance to stomach through the high volatility of the stock/ asset that they own they don’t cave under pressure. Read Also: 4 Stocks The WallStreetBets Reddit Community Is Short Squeezing GameStop (NYSE: GME) AMC (NYSE: AMC) Nokia (NYSE: NOK) Top Glove (SGX: BVA) #1 Diamond Hands Here’s a quick guide to these new popular investment terms and what they mean. In fact, the crypto community have embraced this lingo wholeheartedly and the terms mentioned here can be found in both communities. From a niche Reddit thread, the WallStreetBets’ lingo has spread beyond Reddit to infiltrate the way we talk about investments. This was most evident in the GameStop saga, where the subscribers (stocks and options traders) of r/wallstreetbets banded together to buy up stocks of GameStop to prevent Wall Street hedge funds from profiting from their short trades. Meme culture has taken over the trading world with the surge in social trading.

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