Really Jealous of the GameStop Buyers Right About Now

By A R
@rz3300 (357)
United States
January 27, 2021 5:14pm CST
Anyone else following all this? I am not a big follower of the stock market, but I have some invested and cannot stop tracking the progress of the Game Stop investors right about now. For those who don't know, a big hedge fund tried to short Game Stop stock and apparently a bunch of amateur investors got together - through the internet - and decided to buy and hold, meaning that the stock price surged. Stock went from about $20 a share to $300ish last time I checked. I don't knowall the details and how it all works exactly, but basically the hedge fund is losing billions and the small guy is coming out on top. Not sure what it means for most people invested, but it is at least a nice change of pace. If nothing else, it is a really interesting story.
4 people like this
3 responses
George B Vieto
@Deepizzaguy (94514)
• Lake Charles, Louisiana
27 Jan 21
One reason I avoid the stock market. I have no idea how to work their system.
2 people like this
A R
@rz3300 (357)
• United States
27 Jan 21
@Deepizzaguy Same here for the most part, but this story is pretty fascinating. I am all for sticking it to the rich guys.
2 people like this
George B Vieto
@Deepizzaguy (94514)
• Lake Charles, Louisiana
28 Jan 21
@rz3300 Same here since a lot of them do not care to help the needy.
Jim Bauer
@porwest (78761)
• United States
14 Mar 21
@rz3300 Never take that stance. It's a silly one. The rich guys invent all the stuff you want and need. They provide jobs. They produce things. Sticking it to the rich is a very bad idea, because without them, you would have nothing.
1 person likes this
CarolDM
@CarolDM (203454)
• Nashville, Tennessee
28 Jan 21
I heard that on the news earlier. Not sure all of the details.
1 person likes this
Jim Bauer
@porwest (78761)
• United States
14 Mar 21
It was definitely an interesting story. But being one "in the know" when it comes to the markets, I steered clear of this one even though I knew I could make some easy money both holding a long position and selling shares short. The stock was moving artificially, plain and simple, and while nothing illegal happened here... This was not about investing at all. This was pure and simple gambling. And when it comes to the stock market I simply do not gamble.