An open letter to the GameStop army on Reddit MarketWatch 2/1/2021
BRETT ARENDS S ROI
If you’re one of the thousands, maybe tens of thousands, who made money this week from the GameStop ramp, this is for you.
First, many congratulations if you just made bank especially if you cashed in your gains before the stock’s 44% plunge on Thursday. All free money is good, but making it by beating hedge-fund managers at their own game is especially sweet.
It says something that people on Wall Street, along with various regulators, are huffing and puffing about “market manipulation.” Where were they when billionaire traders were, say, buying bitcoin and then going on TV to talk up the price?