Many of you have been following the gains on Game Stop GME and wondering if you should be part of the action.
I have to admit, I was tempted. Not for the gains but to be part of the history of what’s happening to the giant Wall Street hedge funds. Buy one stock, what does it hurt?
I then saw a guy post on a New Zealand Reddit forum that he had made $300k off a $10k investment and was looking to sell Monday. I was was doubly tempted to board the rocket ship.
But in the end, I decided no. I’ve placed a Buy Order on some more Tesla TSLA for the dip and that’s enough excitement for me this week*. I’ll keep monitoring the Wall Street Bets forum on Reddit for the laughs and for the history and fascinating discussion, but gambling isn’t my thing. I don’t think it’s wise to throw money away that you’ve worked hard to earn and people can be part of the action, cheering on the sidelines. I hope it goes to the moon but I won’t be onboard. This one is a pass.
*I’m not a financial advisor-do your own due diligence. I have shares in Tesla.