A Group or Redditors Just Blew Up Two Hedge Funds Over GameStop.

[just444]

How an army of traders on the Reddit forum r/WallStreetBets helped drive a meteoric rise in GameStop’s stock price, forcing it to halt trading multiple times and causing a major headache for the short sellers betting against it: https://t.co/QNNo8s7GkZ
- Vox (@voxdotcom) January 26, 2021
so i don't really understand the whole thing, but the gist

Comments

[xtinkerbellax]

I feel like I see people my age putting tiny bits of money into the stock market on low risk stocks thinking they're going to get rich off of it. Everyone who I know who makes decent money invested in companies that blew up or do it as a full time job basically in retirement. Like I have a coworker whose goal is to make 100,000 this year on her first year investing and it's just a pipe dream in comparison to what she's actually doing.

[madamezuzu]

yeah. robinhood has made investing too attainable. you have to still put in thousands to see any gains. you’re not getting anything from putting less that $1K in. and even them it’s constantly selling and rebuying. it’s not just a one stop get rich.

[sandstorm]

Why do so many use Robin Hood over stash I wonder.

[nutmegdealer]

good question. i use stash and it seems like it's a good choice.

[sweet_heloise]

I've seen more marketing for Robinhood. It gets promoted EVERYWHERE especially with their referral code that gives you one free stock.

[iamjohnbeans]

$100k? Damn I wish I was that optimistic!

[sweet_heloise]

You have to get lucky to make millions. It's like gambling.

[misscrystal]

Yeah, you have to get VERY lucky or have money to burn to begin with to legitimately make 6 figures investing, and there's really almost no way you can do it just buying shares. You have to basically gamble with options to get anywhere fast.

[distant_lines]

Yeah, to make 100k, you basically have to have hundreds of thousands of dollars at play. What a lot of people also don't understand about the stock market is that a lot of your money is made only a few days a year. Basically, odds are that your money isn't gonna be made by just randomly hopping in and buying something, but by actually studying what you want, and waiting for a day that it takes a tumble, and then holding onto that long enough to wait until it hits what will probably be it's top.