3 ms·
GME is $261 at close today. If you bought at peak and sold at close, you'd have a 40% loss at worst. Moreover, this narrative that people are betting with mort
by freeone3000 6y ago
GME is $261 at close today. If you bought at peak and sold at close, you'd have a 40% loss at worst.
Moreover, this narrative that people are betting with mortgages and retirements is simply unfounded - most people are in on call contacts or with their "stupid bet" funds, or a few thousand at most. Please remember with WSB, and other 4chan-diaspora communities, to seperate the memes from reality.
- tqi 6y agoTotally agree that MOST people aren't betting their futures on this. But for one, it only takes a few instances for it to shape the public narrative. For another, in a country where 40% can't cover a $600 emergency, it doesn't take that much of a loss to dramatically alter someone's life (especially in our current economy). The end result would have been a flogging in the press and to calls for regulation in Congress.
- freeone3000 6y agoThe people who don't have $600 to cover an emergency don't have a stockbroker at all, much less one they use to take bets they read about on the internet. There's, as an absolute measure, very few people actually in on this.
- tqi 6y agoThey have (had?) Robinhood