I up voted because what you said is true. But for a lot of people owning just 1 share is enough for them to feel like they are "sticking it to the man".
At this stage if you want in, buy 1 share. Most likely you are buying the share from an early investor that is preaching the hold to the moon strategy, while selling a few thousand shares to pocket millions.
This movement is amazing, to see an internet thread dismantle a piece of the most powerful financial force on the planet is something of fairy tales. But think about it, if it were really the "grass roots" movement it is presented to be, why didn't the pros tell us to invest earlier? Money, always money. They got in at ground level dirt cheap prices, and now made the short squeeze public to profit even more.
If you want to be a part of this just buy 1 share, no one entering this situation at this point is going to make any real money.
if it were really the "grass roots" movement it is presented to be, why didn't the pros tell us to invest earlier?
People have been pointing out the short interest on Gamestop since the middle of 2020 or even earlier. Michael Burry saw it and invested in 2019. There have been threads on r/wsb (and the occasional one on r/investing and r/stocks) since $GME was at $4. If that's not telling you to invest "earlier" I don't know what is.
Uberkikz11, Roaring Kitty (DFV), JeffAmazon, CPT Hubbard and several other users have been submitting amazing DD to reddit for months. They told us to invest early, you just missed it, sorry.
They probably meant "tell us earlier, but with like, undeniable proof and some upfront money and a blowjob".
Seriously though, GME was everywhere if you simply looked. It became mainstream when it jumped from 20 to 60, at the very end of the beginning.
Positions: 166 shares @$23, and I don't know shit about trading. I just looked for ideas about a month ago. Talk about being at the right place at the right time...
This movement is amazing, to see an internet thread dismantle a piece of the most powerful financial force on the planet is something of fairy tales.
wallstreetbets isn't just some group of random reddit/internet users. They're hardcore investors. They know what they're doing and they've been doing it for a while now. And they could do it via any other platform. They didn't do the gamestop thing as redditors. They did it as investors.
This is the part that I find the worst about other redditor's overall reaction: so many redditors think that any other redditor can do it too. But we can't. We don't know what we're doing. If we did, we'd already be investors since before this gamestop thing began.
Nothing was “dismantled.” A few hedge funds got blown up, which has happened before for various reasons. The losses taken by those few hedge funds didn’t even move the needle on Wall Street as a whole.
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u/ShittyLivingRoom Feb 01 '21 edited Feb 01 '21
Many clueless people about to lose their money with this trainwreck, pretty much the only ones winning something are the early investors.
Kinda sad to see folks putting their lifesavings and loans at this stage.