Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buyers Admit They Messed Up
https://www.vice.com/en_us/article/k7ayga/reddits-gmebagholdersclub-is-where-gamestock-stock-buyers-admit-they-messed-up
Someone was always going to be left holding the bag. That’s the way it works. After weeks of magnificent highs, GameStop’s stock is plummeting. As of this writing it’s at $57, down from last week’s high of more than $400. As the stock falls, investors are selling off, which only increases the fall. The destitute players who held on to the stock too long are now gathering online to commiserate and return to the activity that started it all—posting.
Wallstreetbets is still going strong. Some people are looking for the next stock, others are posting their losses or gains, and still more are demanding that the posters remain “diamond hands,” meaning that they aren't selling their shares of GME, regardless of what happens. Most of the top posts seem to suggest that, with enough determination, they can still force a squeeze, sending GME to the moon. There is also a sense that this is not about the money, that it never was about the money, that it's about sticking it to Melvin, Citron, and other hedge funds that shorted GME. “GME is not over,” one Wallstreetbets post said, its headline trailed by rockets going nowhere. “They want us scared and it is working…I don’t see rockets no more. We achieved so much that we forget about the real reason we invested in GME. Yes tendies matter but we achieved more than that. You guys made more than a million…friends. All I hear at my job is gamestop people doing good things.”