The short squeeze last week that propelled GameStop Stock (GME) and other stocks popular with the Wall Street Bets Reddit Group now appears to be on hold. GameStop is down to under $100 a share after trading upwards of $250 for the better part of last week. AMC another stock the group was into has also fell a lot since last week The drop in stock price can be partially blamed on regulations from Robinhood and others on the amount of stock allowed to be purchased with specific volatile stocks.
It is very likely that GameStop (GME) will continue to go up soon. Many of the Wall Street Bets investors have been saying “the short squeeze hasn’t yet started”. On Tuesday Mark Cuban told members of Wall Street Bets on Reddit to stay in stocks like GameStop. He said he has no doubt that there are funds and big players that have shorted this stock again thinking they are smarter than everyone on Wall Street Bets. Others have said the lower stocks like AMC go the more influence groups such as Wall Street Bets can have on the stock
Some pointed out that young investors have been investing in stocks a lot more recently. They invest in brands they know and like and understand consumer trends as they are the ones creating them. Some say they are the cause for the rise of stocks such as Tesla (TSLA).
It was also pointed out by some that young people have been making a lot of money on stocks and may be angering the hedge funds. Others say they are worried that this can hurt small investors as they compare this to the “dot-com bubble that caused the crash of 2000.
Many investors say however that this is way different than 20 years ago. Nowadays stocks can be bought in partial shares and with no fees. There are also new ways to communicate with millions of people at a time. Social Media is new and things are different.
Some others have even pointed out that young investors may be tired of traditional stocks. They may be looking to ‘gamble’. “As long as they have that 1 GameStop every once in a while they will continue gambling.”
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