Reddit group WallStreetBets behind massive GameStop, AMC run-ups goes private, invitation required


Rafael Henrique | SOPA Images | LightRocket via Getty Images

“Wallstreetbets” Reddit chat room, where retail investors marshal against short sellers, went private on Wednesday evening, limiting access to outsiders.

“You must be invited to visit this community,” the page stated. The forum’s members topped three million as of Wednesday.

The community gathered an army of rookie day traders who go after heavily shorted stocks, pushing share prices higher and squeezing out short-selling hedge funds. GameStop, a popular target in “wallstreetbets,” has seen its shares soaring more than 400% this week alone.

Reddit did not immediately respond to CNBC’s request for comments.

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