GameStop Reddit Share Price

[Bitofthebubbly]

I’ve not bought into this, if it was a few weeks ago I might have. It’s very interesting to watch though, wallstreetbets on Reddit is a bit of a scary place to be, it’s a bit like a cult over there it’s very strange. They’re egging each other on and not being rational at all, some people are claiming to have put their entire life savings into it, it’s crazy and not a good place to find balanced info. They will just tell you what you want to hear and shout “DIAMOND HANDS” at you. I am not convinced the price will reach $400 again but time will tell.

This fiasco has however got me looking into legit investing for longer term gains. So there’s that.

 

[StephenTJackson]

I’ve not bought into this, if it was a few weeks ago I might have. It’s very interesting to watch though, wallstreetbets on Reddit is a bit of a scary place to be, it’s a bit like a cult over there it’s very strange. They’re egging each other on and not being rational at all, some people are claiming to have put their entire life savings into it, it’s crazy and not a good place to find balanced info. They will just tell you what you want to hear and shout “DIAMOND HANDS” at you. I am not convinced the price will reach $400 again but time will tell.

This fiasco has however got me looking into legit investing for longer term gains. So there’s that.

I've been investing for a while for the long term. I admit I bought a few shares just before it all started going south, watched the price go up, then sold quite quickly. I made a couple of hundred quid, so it was better than nothing. But I don't see it going back up much now, the US authorities have stamped it out with new requirements.

 

[Merpedy]

I've been investing for a while for the long term. I admit I bought a few shares just before it all started going south, watched the price go up, then sold quite quickly. I made a couple of hundred quid, so it was better than nothing. But I don't see it going back up much now, the US authorities have stamped it out with new requirements.

If you compare it to a pump and dump graph it pretty much looks the same.
You're honestly smart for selling as that's all the whole movement really was.

 

[StephenTJackson]

If you compare it to a pump and dump graph it pretty much looks the same.
You're honestly smart for selling as that's all the whole movement really was.

All the movement did was artificially inflate the value of a declining, loss making business. Long term the share price is only going to go down as the business continues to decline.

Some people who bought shares at <$20 and sold at >$350 will have made a fortune and good for them. People who got in at >$300 and didn't sell before the US regulators intervened will probably have lost money.

But that's investing, you win some, you lose some. I'd had an investment that was up £1000, I risked holding it, the share price dropped in my absence, I "only" made £500 profit when I sold. But that's investing, it's all a gamble. And it's always better to make something than nothing.

 

[Former_Antelopee]

Bringing this back as I just got a memory of the money I made from GameStop. Haven’t really invested in anything since, apart from making a bit on AMC. I think I got lucky with GME so haven’t risked. I made 5k on GME and 1.6k on AMC

 

[rainbowlemon]

Netflix did a good documentary about this called Eat the rich.

 

[Former_Antelopee]

Netflix did a good documentary about this called Eat the rich.

Yes I watched it I thought it was good