People Are Buying GameStop Stock For Fun and It’s Costing Hedgefunds Billions
By now you’ve likely heard about Gamestop and the craziness involving their stocks, right?
If you haven’t, sit down because this is quite crazy and confusing ha!
So, here is what I understand happened…
So, the Hedge Funds (the investors) decided that companies like GameStop were dead and decided to short the stock and place a bet against GameStop.
Basically, the were rooting for GameStop to go bankrupt.
Well, origdanary, every day investors (like you and I) decided to fight back and say that wasn’t cool.
A Subreddit on Reddit decided to come together to buy the stocks while they were low in order to make the Hedge Funds lose their bets (and ultimately millions of dollars).
Then once the stocks began to rise again, people sold off their stocks for massive profits.
It has been insane and it has drawn so much attention, this group of reddit users are doing it again with other stocks.
In fact, on my Robinhood app, you cannot even buy GameStop stocks anymore. It is crazy!!
And for those of us (like myself) that have a hard time getting all of this, this is a really good and dumbed down version of what is happening ha!
If you want to get in on what is happening right now, you can Sign-up with Robinhood for Free Here and get a Free Stock to start!
You can also watch some really good videos below that explain this far better than I can ha!
