Meme stocks are this generation's dot-com bubble
#finance 1 min.
Let’s see.
Everyone is buying. You’ve probably gotten stock tips from your colleagues, friends, neighbours, and relatives. People who couldn’t tell you the difference between a stock, a cfd, and an option are scrambling to open trading accounts anywhere they can.
The market is at all time high. You could’ve bought almost anything and have unrealised gains, so everyone is feeling smart.
The evaluations are clearly overvalued to anyone who would even glance at the actual businesses, but no one is doing that. Why would you? Stonks go up, what more do you need?
Yeah, that sounds familiar.
Hey, I’m not judging. Gambling can be fun! Just don’t gamble with money you cannot afford to lose. Personally, I prefer poker :)
The context: as I’m writing this, the latest /r/wallstreetbets pump and dump scheme has seen GameStop stock soar 10x in a week. Their next targets are BlackBery, Nokia, AMC. The goal is to trigger a short-squeeze and make the hedge funds pay for all the fun. We still don’t know how exactly this will play out, but it’s gonna be interesting no matter what. Here’s a much better explaination of what’s going on.