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You’re Drunk, WallStreetBets. Go Home
On a number of occasions over the past week, I've alluded to the distinct possibility that while furious rallies in stocks touted on Reddit and social media may well have created small fortunes for a relative handful of market participants, it was a virtual guarantee that there would be more losers than winners in the rapidly expanding universe of retail investors.
While nothing is certain in life besides truisms and tautologies, one could be almost sure about the following: Shares of GameStop,
I bought a stock at low price….held it for a two years….hit 20 yesterday…..today jumped to 70……how much of that was Robinhood/Reddit induced madness? Does it matter? No one can trust a sudden inceeases in price on merits (this case an alzheimer’s drug) of the upward price movement, can they, in the short term?
Did you sell?
that june peak in retail mania kept the market down a few weeks but thats it
Yesterday 2 stocks up crazy. I looked everywhere I could in the financials and not a whisper.
Between the FED and funny business I am losing a sense of value I naively thought existed.
I wonder for how many the sums “invested” were too small, and the “fun” too great, to constitute any sort of deterrent? People lose money in casinos all the time and keep going back.