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There’s a reasonable business case to make for (some of) the game retailer’s valuation there’s also a case that this whole thing has just been quite fun for everyone - the possible trolls of Reddit, market watchers, commentators, and certainly GameStop - except for the short sellers, who have been in for a pretty miserable ride. On GameStop, the answer is probably a mix.
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It’s not clear how many of them are looking at the underlying fundamentals of companies, or whether they’re just “YOLO-ing” themselves across the market. There has been a lot of hand-wringing about the day-trading trend and this new crop of investors playing the markets, many of whom are treating stocks more like a spin at the roulette wheel than a long-term strategy to build wealth.
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Goliath story, where David - at least on some fronts - appears to be winning.įamed investor and CNBC personality Jim Cramer called the GameStop drama the “ squeeze of a lifetime.” Bloomberg opinion columnist Matt Levine posited that one possible explanation for what happened could be “utter nihilism” on the part of the Reddit crowd, a story “perhaps best told with a series of rocket emojis.” Or maybe one of the WallStreetBets moderators put it best to Wired: “It was a meme stock that really blew up.” An army of traders on the Reddit forum r/WallStreetBets helped drive a meteoric rise in GameStop’s stock price in recent days, forcing halts in trading and causing a major headache for the short sellers betting against it and banking on the stock falling. In the GameStop saga, at least, the answer is yes. Sure, small-time investors trade a lot, sometimes to the annoyance of more traditional institutions, but are they really consequential? And one big question amid the frenzy has been how much the little guys really matter. Here’s hoping the man gets the help he needs following this latest incident.Who knew the first big 2021 stock market story would be … GameStop? But here we are.ĭay trading and individual investing have boomed over the past several months, with activity often taking place or being discussed on platforms such as Reddit and Robinhood instead of in more traditional arenas. And another series of Instagram videos posted in April of 2021 had Bonnar causing a scene at his local gym after they ejected him for refusing to wear a mask. In 2020, he revealed he was suffering from a brain condition related to CTE. It’s been a rough couple of years in general for Bonnar, who was dragged incoherent out of his car by police and arrested for his third DUI in 2018. Several fighters reached out through the comments section, offering to help. That potential scenario could have led to the meltdown witnessed on Bonnar’s Instagram, and whether what happened is the result of extreme pain from his injury or straight up opioid addiction (or both), you can tell Stephan is in a bad place. It sounds like an earlier prescription for Oxycontin may have tripped some sort of internal check at the pharmacy that put a hold on Bonnar’s ability to get a Norco (hydrocodone) prescription filled. A post shared by Stephan Bonnar abuse is extremely widespread in the United States, and part of a late effort to tackle the issue involves more regulation on when doctors and pharmacists can provide opioid-based painkillers to patients.