Quote:
Originally Posted by PepsiFree
WSB is really nothing like that, at all.
Before this nonsense blew up, it was an online community like any other full of memes, huge losses, and people really not taking the stock market seriously. It's still that, more or less, but has been flooded with people looking for stock advice and the next big thing. Those people will leave eventually when they realise that it's a terrible place for it.
It's suddenly built a reputation of some group that has uncovered the code of the stock market, and to others, like a group who pretends to have done that to draw in as many suckers as possible. Both are wrong.
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Yeah, I didn't mean to mischaracterize them as some evil mastermind group. What's happening with WSB now is obviously way out of the ordinary. The board has become the center of so much attention and it's the excitement of the moment that's drawing people in. People on WSB have posted about having their life savings in GME. Others have apparently seen millions in gains. There's lots of incentive among that crowd to push the frenzy. You can see that clearly on WSB. Smart people who have seen gains will start cashing out though. The pump won't last forever, and those who came in too late are already getting burned.