The Reddit forum that helped kick off the frenzy has given way to anxiety, financial bloodshed and infighting
Investors plowed billions of dollars through Robinhood and other online brokerages into GameStop in recent weeks, but the share price has crumbled as traders abandon ship. The beleaguered video game chain peaked last week around $483 and closed on Tuesday at $90, its biggest one-day decline yet.
And as GameStop’s stock price has crumbled, posters have increasingly admonished traders with tough-love reminders that they are just as likely to go broke as strike it rich.
“This is a community of full blown first class … degenerates which take pleasure in posting losses accumulating into the millions every” month, one expletive-filled post read Tuesday. It received more than 50,000 upvotes.
This is not a “Disney ferry ‘One-Wish-comes-true’ show,” said the poster, “SimplyPwned.” “This is the place where one wants to enjoy the sado-masochistic part of the … capitalistic system we are living in. … No sane long-term investor would consider to invest into any of these investments — this is about ‘get rich or die trying!’ ”
