Announcement

Collapse
No announcement yet.

The Game Stop Phenomenon - aka The Revenge of the Common Man

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #16
    bump this

    Comment


    • #17
      https://www.medscape.com/viewarticle/945388

      Med Student Uses GameStop Stock Profits to Help Community

      Laura Arenschield
      February 05, 2021

      A second-year medical student who quadrupled his investment during the frenzy involving GameStop stock in January used some of the profits to help a children's hospital in his city.

      Aaron Schmid, a student at Marion University in Indianapolis, had been playing the stock market for a few years, hoping to boost his retirement savings. This despite the fact that he's already paying thousands of dollars a month on his student debt. Schmid, 30, was a pharmacist before going back to medical school and already had about $200,000 in loans from that education. He estimates his total student debt will reach nearly $500,000 by the time he's finished.

      Although he certainly could have used all the stock profits himself, Schmid says giving back is important to him. "If I'm blessed with that money, then I need to pay it forward," he said.
      ...
      Schmid had been a member of WallStreetBets for a few months. He had made a little money on another stock and figured, "why not give GameStop a try?" He invested $3000. The last week of January, that $3000 turned into $15,000. The Reddit group collectively advocated for everyone to hold their stocks, but Schmid said he couldn't justify it. "I get their logic, but I'm in med school and I've got a ton of debt and I'm not making any money," he said. "I have to be smart with my money — we have bills to pay."

      Schmid is a religious person. His educational institution, Marian University, is a private, Roman Catholic school. He said his beliefs prompted him to give part of the profits away. He had seen a post on the Reddit community from another user who donated a portion of their GameStop profits, and that helped inspire him, too...
      _____________________________________________

      Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

      “‘i love myself.’ the quietest. simplest. most powerful. revolution ever.” ---- nayyirah waheed

      (My posts are not intended as advice or professional assessments of any kind.)
      Never forget Excalibur.

      Comment


      • #18
        https://www.youtube.com/watch?v=FDFVD-wsHbI
        CNET
        2.98M subscribers
        Watch the best clips from the congressional hearing on the GameStop short squeeze. Members of the House Financial Committee question Robinhood CEO Vlad Tenev, Citadel CEO Kenneth Griffin, Melvin Capital CEO Gabriel Plotkin, Reddit CEO Steve Huffman, Jennifer Schulp, Director of Financial Regulation Studies at the Cato Institute, and 'Roaring Kitty' himself, Keith Gill.

        _____________________________________________

        Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

        “‘i love myself.’ the quietest. simplest. most powerful. revolution ever.” ---- nayyirah waheed

        (My posts are not intended as advice or professional assessments of any kind.)
        Never forget Excalibur.

        Comment


        • #19
          I watched the testimony of "Roaring Kitty". It was fascinating. He had been out of work for two years. I think the 2008/2009 recession caused a lot of suffering - especially in people who were coming into adulthood. I believe that recession is responsible for the wave of socialism that is so popular now among young adults. Millions of them saw their families lose their jobs and houses. Capitalism has not worked for that age group. In addition to their families losing their homes, their parents were not financially able to assist with technical/college education so many millions took out student loans. In an economy where the middle class is being squeezed, these young adults are looking more and more for government to address these inequities. My generation has a serious distrust of all governments, but this younger generation trusts government to provide a more fair environment than natural market forces provide.

          Comment


          • #20

            GameStop shares surge more than 100%


            By Clare Duffy, CNN Business

            Updated 4:58 PM ET, Wed February 24, 2021

            https://www.cnn.com/2021/02/24/inves...ain/index.html

            Comment

            Working...
            X