Zaphod42 posted:

I love the David and Goliath / Robin-Hood story here but I worry about how many dumb redditors are getting caught up in that story and buying into things they don't understand.

As much as a few hedges are going to lose on this, a lot of redditors are going to lose money to other redditors too. This has become a meme stock and that's dangerous. Its obviously a bubble and this is real wild speculation going on.

Its basically a Reddit ponzi scheme at this point.

One thing that's quickly obvious from looking at Twitter or Reddit the last few days is how little most people know about the stock market. I'm no MBA type and am ignorant about a lot of complex finances but even I'm shaking my head at lots of the misinformation going around.

E:

Yep here's exactly what I'm talking about

https://arstechnica.com/tech-policy/2021/01/the-gamestop-bubble-is-going-to-hurt-a-lot-of-ordinary-investors/

The "apes stick together" memes are covering up the fact that a bunch of redditors are robbing other redditors.