I've not been following this too closely, but why are so many people pretending that this is some populist "sticking it to the man!" thing by buying worthless Gamestop stock for horribly expensive prices? Only a small percentage of people that got in early will have made any real money, and the people that have been buying during this week especially have gotten screwed over this. The reddit people that bought GME stocks over the last few days have more in common with Trump supporters buying inflated PredictIt shares after the election than they do with anyone else. Am I missing something?
No, you’re absolutely right. People like me who got in on January 25th and got out a couple of days later have made money. Those (the majority) who got in later and stayed in longer will lose money having bought the grotesquely inflated shares of a bad company. It’s amusing how Alexandria Ocasio-Cortez and others cheered on the creation of a bubble to stick it to the ‘hedge’ funds though.
Poll
