![]() “Really the biggest part is once you see everybody buying shares day after day, and seeing it live on your own screen, and watching it go up,” Mr. Timing a trade perfectly is nearly impossible even for the best stock pickers, so even those who made money missed out on far greater riches if they didn’t sell at the rally’s peak. Many small-time investors who got caught up in the mania as it peaked lost big. The trading frenzy - powered by online hype over a rebellion against traditional Wall Street powers - had created, and then destroyed, roughly $30 billion in on-paper wealth. Breathtaking fortunes appeared overnight.Īt its highest point, GameStop’s share price was $483. And for a while, the unlikely trading boom around the stock of the beleaguered video game retailer GameStop put the little guy on top. Winners and losers are made every day on Wall Street. And by the end of a wild two-week ride where fortunes were made and lost, some just hoped they’d be able to pay their rent. Some wanted to be on the front lines of a revolution.
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