I’ve said it a bunch of times but go to wallstreetbets subreddit. That explains it all. A lot of these people are not gambling small sums of money.
Yeah but are they gambling multiple billions? Also wtf are they trust fund babies or something? How did they get so much given I assume the average age of these incels is 19?
Do they ever talk about Exxon? I need to know if I’m in a meme stock.
There are hundreds of posts PER MINUTE on there and hundreds of thousands of active users. Combined they have billions, yes.
Exxon is not a meme stock yet. If I see it I will let you know.
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Wow I didn’t know and would have assumed they were all paper traders.
There is routinely legitimate loss and gain porn that is 6-7 figures on there.
The Tesla insanity is heavily driven by retail investors (i.e. morons).
So what you’re saying is Telsa to 2k after hours tomorrow on bad earnings? Sign me up.
Isn’t Elon notoriously dodgy about recording earnings? Seems like near zero chance they don’t declare profit.
They 100% will. If they don’t they won’t get added to the s&p 500 and get that sweet sweet pump from index funds having to buy their stock
I kind of assumed the whole sub was a big level? Or at minimum that the front page gains/losses graphs were extreme outliers.
Think about online poker stakes. Bulk of players at the micros, a handful of players at the midstakes, a few high stakes and some nosebleeds. What % of those 100k users are actually posting 6 fig gains losses? 0.1%? I’m skeptical wsb is actually moving billions but would love to be proven wrong.
I also find it hard to believe that so many have the stomach for such volatility and high $$$ swings. Again, think about poker. Something has to be wrong with your brain to win/lose $10,$50,$100k on a daily basis and be desensitized to that. It is not a common trait. Unless these people are just brainwashed.
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They seem to be all of the old crypto shitcoin reddit crew types. I don’t think heavy volatility is something they dislike. Quite the opposite. They all bitch in unison when the market is flat. Imagine all of the old pump and dump shitcoin people moving in to the stock market? Because I really think that is what has happened.
That also explains why TSLA/NKLA/Hertz have gotten pumped. These are people who ran Dogecoin into a market cap in the billions. So just running up stock prices completely untethered from reality is not only something that they are doing, it is all they know.
I made fun of this on Twitter last year and got this reply
https://twitter.com/bgc85/status/1158900394464071680
I’m sure getting $2 per share was worth it to the caller asking if they should sell at $62.
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Unless I’m missing something, Bryan’s point is that the caller wasn’t asking if they should sell BSC stock. They were asking if their money was safe in a Bear Stearns account.
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Dammit, that means we can only dunk on Cramer for saying BS wasn’t going anywhere and not because he gave the caller bad advice.
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Also he apparently used to trap women in hotel rooms and then stand in front of the door playing with himself.
They are largely gambling student loan money imo
One guy allegedly got money from a loan shark and was posting detailed updates for a while.
Is it? My 401k displays my last three year return every time I log in and it’s currently, for my 100% stonk portfolio, at 5.24% annual return. Which isn’t terrible but it’s hardly irrational exuberance bubble territory.