Some big investment firms shorted the gamestop stock (bet that it would go down) wayyyyy lower than the value of the stock. Some people saw the massive shorting and gamestop's new leadership and saw a big opportunity to call out the investment firms on their bet.
The price of gamestop has gone up 15x since then meaning everyone who made the overcommitment on shorting the stock (intending to profit off gamestop going under) is now fucked on their stupid bet
A few people making millions of dollars in a short period of time. Many people making 3-10x their money in a short period of time. Many people losing thousands before realizing "I don't know what the fuck I'm doing" and stopping the bleeding. Some people losing their entire life savings.
And all the hilarious memes along the way.
The problem is if you look at WSB you get the impression the break down is
Some people becoming millionaires overnight Many people making 3-10x their investment. A few people losing, some of those losing big.
So you're tempted to do what they do because "most of them win!" But even on WSB a lot of people will remind people that you will lose often so you're a fucking idiot if you sink money you absolutely need into a WSB.
AlexanderAF on January 24th, 2021 at 16:44 UTC »
It’s simple. Go in with money and high hopes, then leave them behind.
Arcadian5656 on January 24th, 2021 at 17:46 UTC »
Some big investment firms shorted the gamestop stock (bet that it would go down) wayyyyy lower than the value of the stock. Some people saw the massive shorting and gamestop's new leadership and saw a big opportunity to call out the investment firms on their bet.
The price of gamestop has gone up 15x since then meaning everyone who made the overcommitment on shorting the stock (intending to profit off gamestop going under) is now fucked on their stupid bet
nobodynose on January 24th, 2021 at 18:37 UTC »
To be more specific actually it's
A few people making millions of dollars in a short period of time. Many people making 3-10x their money in a short period of time. Many people losing thousands before realizing "I don't know what the fuck I'm doing" and stopping the bleeding. Some people losing their entire life savings.And all the hilarious memes along the way.
The problem is if you look at WSB you get the impression the break down is
Some people becoming millionaires overnight Many people making 3-10x their investment. A few people losing, some of those losing big.So you're tempted to do what they do because "most of them win!" But even on WSB a lot of people will remind people that you will lose often so you're a fucking idiot if you sink money you absolutely need into a WSB.