Yeah seriously, these stocks are moving like 2017 crypto. Up and down 50%+ in one day... wtf?
At this point I'm trying to decide whether to just get out if I break even. I probably won't break even, in which case I'll just hold. AMC is a big movie company, and there's no reason they should start performing better as a company once the pandemic is over. I also bought a measly 2 shares of BB, and 100 shares of Naked. Those two are a really small portion of my portfolio so will probably just hang on, because why the fuck not? BB is a solid company too. My other stock is a weed company and it's not part of this madness, it's been doing me right, I bought some more in a dip yesterday. It's the biggest part of my stock portfolio.
This whole thing reminds me of the 2017 crypto spike so much. On the reddit sub, people are posting about how they lost everything, leveraged a mortgage, student loans, life savings, etc. You should never do that, ffs.
One guy showed a screen shot of his balance, he has 50,500 shares of GME, in the past 24 hours it lost $14 million in value and he's still holding, lol. Of course he bought it very, very low, so he's still up by like $12 million of something.
For a lot of people it's about fucking over the hedge funds and exposing systemic hypocrisy. I'm watching, would be cool if I could make some money, but I'm not an idiot so I didn't bet more than I could comfortably lose.
I want to start looking to diversify into safer areas. Some good ETFs and maybe find a couple of companies I think will be good investments for at least a year. It's a little too white-knuckle for me to go into something so volatile.