jimboston wrote:2dimes wrote:It was never about investing for most of the people that bought those Game Stop shares.
You still think a kid that would spend $600 on a pair of Nike shoes or $1200 on a new game console, is going to be upset to lose $200, buying stock to prevent the short sellers from bankrupting the company.
Ok.
1) Yes
2) How many people bought just one share?
When I wrote, "never about investing" I meant, they were not buying stock intending to profit on the price increase. I still believe most of them wanted to save the company.
No idea about your 2). I think you are right, I must have been sort of imagining someone buying one $200 share. And yeah, that's silly.
Those losing money I would have empathy for in this event, almost for sure bought shares way before they got to $200 each.
I would suspect nearly all shares purchased at higher prices, would have been bought reluctantly because someone had to buy them after a short sale.
Wouldn't almost everyone else just be sad they missed out grabbing some on the way up?
If someone, particularly a young Game Stop customer, that shouldn't have been buying them at the top did. I do not think they were buying 50 shares. I suppose it's possible that someone did that and is losing a large portion of $10,000.
Like you wrote toward that, "sorry!"
