“It’s being mocked so much it’s almost a meme,” she said. “I think a lot of those jeering secretly don’t want to be left out of things if this turns into a GameStop.”
This line especially is funny, because the majority of the people who bought into the GameStop thing ended up losing their money because they didn’t sell when it was up, or bought in too late. The loss denial from that is what led to the whole Bed, Bath & Beyond stock BS which led to many more people losing money. I think the people who “don’t want to be left out” if Reddit goes that direction have a very rose-tinted view of what happened there.
Me and a friend bought in, knowing that it was probably too late. I made a decision that I would rather lose all my money than sell at a loss. The stock jumped like another $90 right after we bought and then the bottom fell out the next day. We waited about a week and my friend decided to sell at a loss, losing $800. I refused to sell. A couple weeks later it spiked back up early in the morning and my sell order executed. I ended up making a few bucks on the whole thing. The most important lesson I learned from that experience is that I’m not as risk tolerant as I thought I was. I decided never to buy meme stocks, or risky stocks again, and I think Reddit’s IPO falls into at least one of those categories.
This line especially is funny, because the majority of the people who bought into the GameStop thing ended up losing their money because they didn’t sell when it was up, or bought in too late. The loss denial from that is what led to the whole Bed, Bath & Beyond stock BS which led to many more people losing money. I think the people who “don’t want to be left out” if Reddit goes that direction have a very rose-tinted view of what happened there.
Me and a friend bought in, knowing that it was probably too late. I made a decision that I would rather lose all my money than sell at a loss. The stock jumped like another $90 right after we bought and then the bottom fell out the next day. We waited about a week and my friend decided to sell at a loss, losing $800. I refused to sell. A couple weeks later it spiked back up early in the morning and my sell order executed. I ended up making a few bucks on the whole thing. The most important lesson I learned from that experience is that I’m not as risk tolerant as I thought I was. I decided never to buy meme stocks, or risky stocks again, and I think Reddit’s IPO falls into at least one of those categories.