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by ZephyrBlu
1962 days ago
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> There is no way everyone can get out at the top, so a lot of people will have to sell at very low prices. This is even true if the original thesis of "we can pump this stock to $1000" is true This is what I've been thinking about the whole time. They can definitely pump the stock if they keep HODLing, since sellers effectively set the price when the short positions have to be closed. Someone still has to be the bagholder and end up holding near worthless stock at the end of this though. $GME will come crashing down once the short squeeze is over, and there's only going to be a small minority of retail traders who get out at the top. People who have bought in later at hundreds of dollars are likely to lose a lot of money IMO. Possibly to the tune of over half their initial investment. |
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The thing that boggled my mind was plenty of people openly asking "Hey, I don't know anything about trading, but I want to join this and buy stock." and other people straight up telling them "Get the app from a broker (not RH!), open an account and buy $GME" (followed by a flurry of rocket and diamond hand emojis)
It is one thing to be told that markets can be irrational and emotional. It's a completely different thing to see it that playing out in real time on social media.