Originally Posted by
Gunfighter
My college age son is active on reddit. I thought he was just comparing gaming strategies. Apparently he's been on r/wallstreetbets. He used his discretionary college funds to open a Robinhood account and joined the crowd in squeezing the GME shorts. The way he explains it, there is a mob mentality of retail traders who want to "stick it to the man". He knows it's a fools errand and closed a portion of his position after a 4x gain. I'm not sure if I should applaud his interest in trading or be worried about a gambling problem. At least he has demonstrated initiative in looking for ways to make a buck.
I’m still holding $AMC, I don’t care about the over 350% I’m up on it. They actually have threatened multiple times on halting trading and “price manipulation” fines. Yet all these renewable energy stocks with zero profit are up a zillion. This originally was a “stick it to the short hedge funds” now it’s a stick it to the suits. Hedge funds trade off momentum, yet they now claim this is reckless?
I’m actually really upset now as well on how they’re using the SEC to bail them out yet they gamble with money everyday. This just became personal for many investors.
The new movement on Reddit is “we’re the Whales now, you’re the bottom feeders” 😂😂😂
Like I said this is biblical, the SEC is jumping on CNBC making threats as we speak, but **** them.
Watch the Chamath Palihapitiya interview on CNBC.