Some basic stock-market lingo you’ll hear or see online range from calls, puts, froth, a death cross and a dead-cat bounce. But what about tendies, bagholders and diamond hands? These are some of terms being hurled across Reddit’s WallStreetBets, a lewd neighborhood of the website sprinkled with its own esoteric language, now at the center of the hysteria in GameStop [$GME], AMC [$AMC], Blackberry [$BB], Express [$EXPR], and Koss [$KOSS].
On a perfectly normal Wednesday, GameStop was up more than 1,500% in 2021. However, major brokerage firms TD Ameritrade and its owner Charles Schwab on Wednesday started putting barriers in place to control the incessant buying, and the Biden administration said it was “monitoring the situation” with GameStop. The Dow was off less than a percentage point and the S&P 500 is up less than half a percentage point in that same year-to-date span.
The WallStreetBets thread swelled to 3.3 million members as of midafternoon Wednesday; the number looked to be increasing throughout the day. Redditors in the forum nonchalantly chuck around some of the contemporary internet digs like “newbie,” meant for rookie investors, and “boomer,” for the older folks and Wall Street as a whole.
Let’s get familiar with the slang, shall we?
‘Tendies’— Generally speaking, that’s short for chicken tenders, but here it’s shorthand for gains, profits or money. As one Redditor said, “LEVERAGE YOUR HOUSE!!!! LETS GET THESE TENDIES!!!!”, followed by nine icons of a rocket blasting off, signaling a stock’s upward trajectory.
‘Bagholding’ or ‘Bagholder’— There’s someone who makes a savvy play to sell high, but then there’s someone who holds stock that’s fallen in value and keeps holding, thinking the shares will recover. “I rather be bagholding a tech company than retail stock,” a Redditor observed.
‘Diamond Hands’ and ‘Paper Hands’— While we’re on the topic of holding, these two phrases refer to people’s hands, but it’s really about what they can stomach. If you’ve got “diamond hands,” you’re ready to hold a position for the end goal, despite the potential risk, headwinds and losses. If you’ve got paper hands, you exit a position, or fold, early on because the heat of the situation might be too much.
‘YOLO’— Standing for “you only live once,” this acronym has already made its impression on the culture. But it’s got special meaning in WallStreetBets, where it’s sometimes used as a verb, to describe the act of gambling big, wagering like there’s no tomorrow. One Redditor noted, “For those making large bank on this I congratulate you. For those who may lose a little, F it YOLO and this is epic history in the making. Go get em!!!!”
$BECKY— The “BECKY ETF” or the “BECKY Portfolio” is an array of securities that are correlated with the demand for goods and services loved by college girls, like Lululemon, Ulta Beauty, and Starbucks.
r/Smallstreetbets— “smallstreetbets” or “Small Street Bets” is a subreddit that evolved from the wallstreetbets subreddit, It is self described as “A place to go if you are too poor for WSB” referring to (r/wallstreetbets). The subreddit focuses on all of the same fun things as the original wallstreetbets. The main difference you will find between r/smallstreetbets when compared to r/wallstreetbets is that the trades and plays on smallstreetbets are done using a smaller amount of invested capital.
DD— Also known as double down, DD means to lay down your money when in relation to a stock. It means that the stock is promising and shows bright value increase potential. DD is also primarily used to describe “Due Diligence” This is the act of doing research into a certain topic, stock or play. DD posts on Wallstreetbets usually have a good amount of information to back up the posters findings within their research.
GUH— The sound of a soul leaving someone’s body. GUH is associated with a major loss and is used as an exclamation. The origins stem from a Redditor u/ControlTheNarrative who made the sound after losing $45k 2 minutes into market open. This moment was actually caught on camera and filmed by Control The Narrative himself!
JPOW— JPOW refers to Jerome Powell who is the 16th and Current Chair of the Federal Reserve. He is also the main character behind the meme “Money Printer Go Brrr”. This meme was created after the Federal Reserve injected $1.5 Trillion in short term loans after the pandy. This “Quantitative Easing” (QE) strategy helped to keep the stock market trending in an upward direction.