What are the top stock discussion forums for 2021?
We look at 7 popular stock discussion groups from Australia and overseas.
After a group of Redditors sent share prices in GameStop and other company stocks soaring last month, trading discussion forums have never been more in the spotlight.
Social media groups are becoming popular channels for investors looking to get stock tips and share trading strategies. Now the GameStop rally has highlighted how important they can be in tracking trends.
After all, knowledge can be a commodity of sorts. On the Australian Stock Exchange (ASX), there are over 2,000 listed companies and exchange-traded funds (ETFs). In overseas exchanges, there are tens of thousands more. With so many choices available, getting to know how and where your peers are investing might just give you an edge.
That being said, it pays to be wary that not all forums are reliable and many users are inexperienced. It can be hard to tell the difference between credible and well-sourced information when there is an abundance of rumour and speculation. Always do your own research and speak to a professional before making any big decisions.
If you're looking to share ideas with other investors, we’ve compiled a list of some of the most popular stock discussion forums out there from Australia and around the globe, starting locally first.
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Australian stock forums
Hot Copper is a great resource for Australian investors for two reasons: first, the forum is very active with posts on a 24-hour cycle and second, the site regularly posts the latest news as it emerges. Users often share articles and company updates and offer their thoughts or questions about the stock.
If that's a strategy of yours, you'll find Hot Copper a good resource, although the sheer volume of information and regular ad pop-ups may not suit everyone.
There are two similarly named forums that style themselves after the popular Wallstreetbets forum. These are ASXbets, which was formed in 2017, and ASX_Bets, which launched in early 2020.
The older forum ASXbets describes itself, "like Wallstreetbets found Australia", however just a quick glance at the forum tells you otherwise. There are only around 3,500 members and the forum is not very active. If you’re looking for a GameStop experience with ASXbets you’re in the wrong place.
The latter more recently formed group ASX_Bets dubs itself an "Australian equivalent to /r/Wallstreetbets". This forum is much more active with around 57,000 users and has a similar meme game as the original US version.
Aussie Stock Forums
Aussie Stock Forums is a little quiet compared to Hot Copper. However, its homepage has a section for recent posts. In this thread, you can find a diverse discussion ranging from Fortescue Metals right through to electric vehicles.
One of the best things about Aussie Stock Forums is that information is easy to find on the homepage because there are no ads cluttering the page.
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The Lion is a solid resource for both the depth of forum posts and links to informative and relevant articles. The homepage is simple and easy to navigate although some readers may find the text size to be small.
Stockaholics is one of the older financial information forums around. Users looking for a slightly older crowd than you'd normally get on Wallsteetbets, might find this forum more suitable. Plus, ads are kept to a minimum.
This forum will suit beginner to intermediate traders. This is a fount of information and posters regularly share their experiences willingly and freely.
Operating for over 9 years, this forum now has 9 million users euphemistically termed “degenerates”. That number has grown from 5 million just a couple of weeks before writing.
This Reddit forum is one of the most active out there. It has been responsible for some of the largest speculative gains (some would say mania) in stock history. For that reason, caution is advised when using this forum as a tool for information on investing.
Despite this, it's well worth a look, even if just for entertainment purposes.
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