We Did Start the Fire: r/wallstreetbets, ‘Flash movements’ and the Gamestop Short-Squeeze

dc.contributor.author Schou, Peter
dc.contributor.author Bucher, Eliane
dc.contributor.author Waldkirch, Matthias
dc.contributor.author Grünwald, Eduard
dc.date.accessioned 2021-12-24T17:59:25Z
dc.date.available 2021-12-24T17:59:25Z
dc.date.issued 2022-01-04
dc.description.abstract In January 2021, Wall Street suddenly faced a challenge from an online community, r/wallstreetbets, which organized a large group of small investors in betting against Wall Street hedge funds. In an instant, the online community came to resemble a social movement nature that brought them comparisons to Occupy Wall Street. To improve understanding of this phenomenon, we studied the Wallstreetbets movement relying on a mixed-methods research design, which combines an unsupervised topic model with in-depth qualitative coding. Our findings outline how Wallstreetbets became a ‘flash movement’, a movement that we define as arising swiftly without former planning or design, through the imbrication of social activities and affordances and constraints of online communities. Our study contributes to (1) the recent interest in spontaneous action in social movements; (2) how social media affordances and constraints affect social movements, and (3) extends methodologies for studying digital social movements.
dc.format.extent 12 pages
dc.identifier.doi 10.24251/HICSS.2022.543
dc.identifier.isbn 978-0-9981331-5-7
dc.identifier.uri http://hdl.handle.net/10125/79880
dc.language.iso eng
dc.relation.ispartof Proceedings of the 55th Hawaii International Conference on System Sciences
dc.rights Attribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subject Crowd-based Platforms
dc.subject affordances
dc.subject imbrication
dc.subject mixed methods
dc.subject online communities
dc.subject qualitative methods
dc.subject social movements
dc.title We Did Start the Fire: r/wallstreetbets, ‘Flash movements’ and the Gamestop Short-Squeeze
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