4 ms·

I feel really bad for the people that put their savings in. Reminds me of the prosperity gospel :/

• jart 6y ago
  WSB started the squeeze back in September. https://www.reddit.com/r/wallstreetbets/comments/iu3j38/gme_yolo_midmonth_update_sep_16_2020/ https://www.reddit.com/r/wallstreetbets/comments/iu3j38/gme_... GameStop is still trading at 6x the value it was back then. So even now those redditors are getting considerable returns. It's been a huge transfer of wealth from wall street fat cats to nerds on an Internet forum.
  • dagw 6y ago
    It's been a huge transfer of wealth from wall street fat cats to nerds on an Internet forum. Once you factor in all the "nerds" who bought at 100+ and are now massively in the hole and all the "fat cats" who made millions playing the WSB crowd, I suspect you'll find a there will be a roughly net zero wealth transfer from the "wall street fat cats".
  • Blackstone4 6y ago
    I dont think it is that simple and more of a spectrum. Some early nerds probably made a lot of money and then many nerds came in mid-to-late in the price run-up. Those guys probably lost money.
    • jart 6y ago
      Not if they're holding. https://www.reddit.com/r/wallstreetbets/comments/lcjh0m/wallstreetbets_its_a_privilege_holding_with_you/ https://www.reddit.com/r/wallstreetbets/comments/lcjh0m/wall...
• tartoran 6y ago
  And don’t forget to feel bad for the poor brokers who shorted GME, they lost most of other people’s wealth.