(Reuters) - Reddit trading lingo may filter in to Washington on Thursday when top hedge fund managers, the head of Robinhood and Roaring Kitty himself are set to give testimony before U.S. House of Representatives lawmakers.
The lingo of the online traders of Reddit's WallStreetBets group, or WSB, which fueled a surge in GameStop Corp (NYSE:GME)'s stock, prompted even singer Dionne Warwick to ask on Twitter https://twitter.com/dionnewarwick/status/1354511727023386624, "What are stonks and why is it a trending subject?"
For the uninitiated, here is a guide to understanding some common WSB words.
STONKS
An intentional misspelling of "stocks" that originated with an internet meme.
ROARING KITTY
The social media pseudonym of Keith Gill, a financial adviser in Massachusetts whose Reddit posts and YouTube video streams helped drive interest in GameStop's stock.
YOLO
An acronym for "you only live once." If someone on WSB has "yoloed" a stock, that person has poured a significant portion of their investments into it.
BAGHOLDER
Someone who has taken heavy losses on a stock, in WSB parlance: While others may have profited from a similar position in the past, that person has been left holding the bag.
TENDIES
Shorthand for chicken tenders, which WSB uses as slang for profits on a trade.
DIAMOND HANDS
Often referenced using emoji, "diamond hands" are how members express their belief that their position is valuable and worth holding on to for maximum profit. Conversely, a trader with "paper hands" sells out early.
TO THE MOON
A rallying cry on WSB, which members use to express their belief that a stock will rise significantly. The phrase is often accompanied by a rocket emoji.