Last Friday, GAME STOP was at $379...

[brooklynite]

Today it's at $67 and dropping.

Timing is everything.....

[DonaldsRump]

1. Especially where market manipulation is involved nt

[CurtEastPoint]

2. You have better odds in Vegas. The market is a game. And stacked against us.

[orwell]

4. You actually have much worse odds in Vegas n/m

[jmbar2]

5. In this case, more of a self-own

Robinhooders fell for a pump and dump generated by themselves. It turned into a cult of not selling no matter how much they lost.

[Hav]

7. Right, this was a planned market manipulation by retail investors

Initially, there might have been some rational argument to invest when the stock was really low but now it doesn't look that much different than the penny stock scams.

[sweetloukillbot]

13. I want to know how much Elon Musk and Mark Cuban had invested...

When they took to Twitter encouraging their followers to get in on the action.

[PoindexterOglethorpe]

6. What happened with Gamestop was a Las Vegas version of the market.

It isn't usually that way.

Of course, trying to time the market is a sure way to lose. If you buy good stocks, or better yet good mutual funds, and hold on to them, you will do well. The market rises two out of every three years, and over time the trend is steadily upward.

What happened with Gamestop is not proof that the market is rigged overall. In this case, the rigging was done by a small group of people who wanted to stick it to the hedge funds. And I'm going to guess that in the past few days those same hedge funds have been short selling Gamestop and more than making up for what they lost last week.

[Disaffected]

10. Good advice.

Buy quality and hold. Don't try to be a "trader" or "market timer" (I've done that in the past and have almost always regretted it later).

I would add though that instead of mutual funds, I would tend more towards ETFs (Exchange Traded Funds) as their management fees are significantly lower (which can make a significant difference in long term profitability).

[BGBD]

18. It's funny

that these folks thought they could stick it to the hedge funds. Those groups probably made more money through this deal than they would have otherwise. I'm sure there were a lot of regular types who got in on the GameStop craze a day or two late and have lost their shirt on it now.

[orwell]

3. It was a short squeeze...

...the high price had nothing to do with the value of the company.

This is always how short squeezes work...a meteoric rise followed by a precipitous drop.

[Iwasthere]

8. Etherium and Bitcoin for the win

Still plenty of time to get in too. You dont need a lot. I used my Charles Schwab retirement account and moved it all into cryptos [link:https://cryptopotato.com/ethereum-reaches-ath-of-1700-economist-predicts-20k-by-year-end/|

[calguy]

9. I've seen a lot of pump 'n dumps over the years

This one was clasic

[sweetloukillbot]

12. And even yesterday there were people here touting that it was still a good time to buy...

[Hav]

15. Yep, I know the thread you are talking about

An article that celebrated a 2.6% gain as the stock rallying, apparently ignoring the bloodbath of the previous days. It talked about outperforming Apple for that trading day.
I wanted to know what kind of idiot would write such an irresponsible article and then I read this at the end:
"Editor's Note: This story was auto-generated by Automated Insights using data from Dow Jones and FactSet"

So that's the kind of wisdom brought to DU to get other people into this mess.

[sweetloukillbot]

16. Even the 2.6% gain was sketch

It closed at 90 on Tuesday, and opened at 120 on Weds. then dropped to 92. So it gained over Tuesday, but lost 30 points during the day on Weds.

[BGBD]

19. Was

that the same thread where the guy told me that Gamestop had a great plan for the future? They linked it and the plan ended up being close stores, fire people, and sell more tee shirts...

I'm sure investors are going to flock to buy up the company who want to be a national retailor of Roblox keychains.

[sweetloukillbot]

20. Yeah... that was amusing too nt

[MissB]

21. I think it was that thread

Hope the poster on that thread got out before losing his “investment”.

[BGBD]

22. Yeah

This thread is already out of date. GME is at $57 now.

If you bought yesterday you have already lost half of your investment.

[MissB]

23. It's just not something I'm into

Dh and I both have 401k/equivalent but we keep things in for the long term. It’s just about a set it and forget it except the occasional meeting with our financial advisor. Slow and steady.

Anytime the market goes down, we take a hit of course. It’s a bigger hit now that the overall number is bigger (though less now as we’ve shifted one into age-appropriate investments). We just don’t look. It’s not like we are changing our strategy anyway.

[Demsrule86]

11. Well I am sorry...I despise hedge funds and hope the little guys continue to take these

worthless scummy investors who create nothing but destroy companies...they are disgusting and what they do should be outlawed. Bring back the bucket laws. Make the Street have a need to care about Main Street once more...also, the taxpayers are often left holding the bag for these folks after they destroy a company some of which could have made it. Also the American taxpayer should not be forced to subsidize commercial business loans...often risky loans because if they are not repaid thank to federal deposit insurance, they always get their money. Bring back Glass-Steagall. Before we had financial laws...we had a 'panic/ depression' every ten years or so. And it is happening again.

[calguy]

17. You sound like one of the many new and proud bagholders.

You know you've been played when the scammers have you feeling like heros for losing huge amounts of money.

[Demsrule86]

24. I didn't have anything to do with this...but I watched Toys "R" Us destroyed by Hedge Funds

and other companies. These bottom feeder hedge funds should be shut down. Bring back the bucket laws. They contribute nothing.

[calguy]

25. Companies don't go bankrupt because of hedge funds

They go bankrupt because they don't have enough customers to generate enough profits or they operate on a failed or failing business plan. The stock prices reflects the value of the company, not the other way around.

[Wellstone ruled]

14. Soon to be 67 cents.