. His fellow Reddit traders also boasted about their outsized gains on the forum as the stock kept surging since July last year.
Public, which opted against trading restrictions before Thursday, chose to apply"High Risk" safety labels to GameStop and other highly volatile stocks instead.Like much of 2020, the GameStop drama can seem unprecedented, but some investors say they have seen this before. As much as Reddit investors are telling each other to"hold the line and do not sell," they will eventually have to take profits on the GameStop trade. That's where the problem lies.
He continued:"There's going to be a few people that make a ton of money and they're celebrated. Then there's going to be a whole bunch of people who lose money that they may not be able to afford to lose, and they might get driven out of the market forever."While GameStop's rally is not driven by its fundamentals, the video game retailer, despite having lost $275 million over the past year, is not entirely hopeless.
"There are a lot of different things that could do now," he said."I would expect to see over the next couple of weeks, some kind of announcement or a plan coming from GameStop as to where they are going to invest towards the future."
Today is the real squeeze. They did not cover. They re shorted and promised the banks it will go down.
You really don't understand what they are doing do you? A small number took profits. Many took profits and reinvested when the stock dropped. They are going after the squeeze and attacking Wallstreet. Feel free to fire this moron and hire me. Really dumb headline.
Experts? Pfffft. There are no experts for this.
'Reddit's army'? Nobody was forced to participate nor did anybody sign up to blindly follow any decisions. Just a bunch of small investors had faith that also others will contribute and that it is good to buy and hold...
Oh they are still not done with Gamestop😂