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I'm getting really sick of the Saga. Plus the poor are not the people buying $$$ worth of gamestop last week, they're trying to afford basic bills. Bored middle
by u678u 6y ago
I'm getting really sick of the Saga. Plus the poor are not the people buying $$$ worth of gamestop last week, they're trying to afford basic bills. Bored middle class millennials maybe, more likely just other rich people and hedge funds.
- syntaxing 6y agoI would agree but I would say all bored Millennials are buying stocks because the RH app is truly addicting and makes buying stocks as easy as giving a like on FB. It’s pretty much a slot machine in your pocket. The biggest problem though is “Millenials” is no longer a term for the young but rather a term for majority of the countries work force.
- lm28469 6y ago> more likely just other rich people and hedge funds. I have at least two friends with absolutely no experience in any kind of investments who installed mobile trading apps and bought GME shares a few days ago at $300+ a pop I'm fairly certain that a lot of people who are far from rich are buying GME stocks right now because a lot of other people are telling them the stock will "likely go over $10k a share" (I've seen it on the wsb subreddit a lot). FOMO is a serious thing, low barrier to entry + constant media coverage = people want to be part of "it", even if they don't know what "it" is, especially when you tell them they could get rich.