I follow WSB from time to time to see what stocks they yammering about.
Every once and a while someone will come on with some decent due diligence on a stock and the whole forum will jump on board. Not just a handful of CPers but truly thousands of people buying large amounts of the stock (YOLOing) which can actually drive the price up pretty good. This creates a perpetual circle of investing-increasing-investing that eventually stops but not until some redditors make some serious cash.
TESLA was one of the first big ones o had seen WSB promote. PLTR was one of the next. GME has been the big one lately as one poster over a year ago posted about the short squeeze opportunity in it. Since it happened over a week ago the whole board is caught up in holding their shares and riding the squeeze (to some great effect). Blackberry is starting to get pumped on the message board lately and I think once GME slows, you could see a shift to BB Unless they move on to something else (SPCE is getting mentioned)
I’ve thrown some money at a couple of their targets. They were in on NIO pretty early (as a cheaper alternative to Tesla) I was in at 3 out at 9...Was late on PLTR and didn’t get a great return. I jumped on MVIS at around 2.50 with some 3.00 options a week before it jumped to 6+. I’ve also went against sentiment a couple times having missed the jump. I bought a long off put on GME hoping it will eventually fall back to its realistic $20 price.
If you can get in and out before a hype train fizzles it’s not a bad strategy with a small portion of your money. Frankly it’s getting too big now with lots of the money made from some big option trading and what they are doing with GME seems suspect. It will be interesting to see what happens with the board after GME
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