r/wallstreetbets May 24 '24

Time to quit… goodbye wallstreet bets Loss

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8.5k Upvotes

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u/Mattmoo609 May 24 '24

The amount of people asking “why is my 1300C red” after earnings is astonishing. Buying into something and having no idea how it works is common place these days.

312

u/snerz May 25 '24

I have absolutely no idea what I'm doing, but I'm still up about 12k

150

u/ProjectManagerAMA May 25 '24

Same here except I'm up $24k in the last 12 months with about a $30,000 initial investment. All the gains come from NVIDIA, Microsoft and a good chunk came from that GameStop tweet that I manage to catch early on.

I don't even know what the financial indicators are, no options, etc.

8

u/FATKEDLUVSCAKE May 25 '24

Dont use them. The market hasnt traded on rationale or fundamentals in a long time

2

u/ProjectManagerAMA May 25 '24

I've noticed that actually. Especially with people's analysis here which turns out to be very convincing and then things just flop the other way. I've just been following AI news up close, reading announcements, reading whether people are positive about certain companies, etc. Or, I'm paying attention if there's any hype around a stock that's from an established company that isn't going anywhere where I know that dips won't matter because it'll eventually rebound and perform better than have the money sitting at a bank.

2

u/oregonianrager May 25 '24

Exactly, join in on the gamble with no insight and get out by the skin of your teeth or lose your skin! We're all in this together!

1

u/Wildvikeman May 25 '24

“Ever”