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A comment on Facebook shuts popular stock trading group amid GameStop frenzy. Parent comment

Re:Facebook shuts popular stock trading group amid GameStop ... by gruez on Thursday January 28, 2021 @10:19PM (#25953376)
Characterizing this as a "rich folk" vs "common folk" issue is hilarious. Aside from the early "common folks" that cashed out, there's also plenty of "rich folks" that cashed out as well[1]. As for the losers, well the hedge funds who were shorted initially definitely lost money, although it remains to be seen whether the "rich folk" hedge funds who shorted this week lost money. It also remains to be seen whether the "common folks" that piled on this week are going make a profit or are just going to be bagholders.

[1] https://www.marketwatch.com/story/large-gamestop-shareholder...

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Re:Facebook shuts popular stock trading group amid GameStop ... by kibwen on Thursday January 28, 2021 @11:04PM (#25953741)
This doesn't deserve to be downvoted. Lots of rich investors are using this as an opportunity to further enrich themselves. The narrative that this is "David vs Goliath" is only partially true; in reality it's Goliath vs Goliath, except one of the Goliaths has David strapped to his chest to absorb any blows.
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Re:Facebook shuts popular stock trading group amid GameStop ... by MrMan on Friday January 29, 2021 @09:50AM (#25957770)
it's gamblers vs other gamblers, the size of their stakes dont matter much for purposes of sorting them.
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Re:Facebook shuts popular stock trading group amid GameStop ... by grecy on Thursday January 28, 2021 @11:12PM (#25953798)
> although it remains to be seen whether the "rich folk" hedge funds who shorted this week lost money. It also remains to be seen whether the "common folks" that piled on this week are going make a profit or are just going to be bagholders

My comment above makes no statement about who is going to eventually profit from this.

My comment is about how as soon as the "common folk" start to take their destiny into their own hands, the "rich folk" cry foul, to the point where Congressmen are issuing press releases, and there is talk of completely re-designing the entire system.

There is an awful lot of whining coming from one end of the wealth spectrum right now.

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Re:Facebook shuts popular stock trading group amid GameStop ... by imtringued on Friday January 29, 2021 @09:02AM (#25957294)
GME stock is like a consumable. You buy it and then it "disappears".
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