Member-only story
I Lost $6,000 Investing in $GME
Mistakes were made, but lessons were learned.
The other week, I jumped on the wagon with the other apes of /r/wallstreetbets and threw ~$4,000 into $GME stock.
My mistake wasn’t getting in. The math looked sound and lots of people made BIG money. Plus, the stock market has always been a game rigged in the favor of big money and “hedgies”, so I had no problems investing in a cause I believed in.
The mistake was getting swept up in the emotional movement of it all. Redditors aka retail investors were taking down Wall Street. It felt good to make those old, smelly and whiney bastards shit a few bricks and bleed money.
When the stock reached $300–400, instead of selling a few shares off to cover my ass (like a smart investor should), these diamond hands 💎👐held. I had never played the stock market before and I got greedy. At one point, I was up $3,000. Later, I was down about that much. All and all it was about a $6,000 loss when you consider the actual losses + potential gains.
With the event in the rearview mirror, every part of my brain tells me I’m a full-blown dumbass, and anybody with a shred of logic would tell me the same, but in the moment, I thought I was making the best decision.
