What a week!
WallStreetBets has evolved from a once-in-a-lifetime event to an ongoing saga. There are plenty of summations for those who are curious but this is my perspective.
My diamond hands have not faltered and I’ve bought a few more stock during the dips once RobinHood opened up trading again. Most of my investments are 1–6 week turnarounds. That’s the timeframe in which I seem to be the most successful. With several full-time unpaid jobs, I just can’t sit in front of a screen monitoring dips.
During periods of downtime, rather than playing a game on my phone, I scroll reddit. There are multiple groups that I follow but I rarely interact. My due diligence(DD) consists of scrolling for tips or news and then confirming assessments through SEC filings, company disclosures, and recent news articles. For $GME and $AMC, I deviated from my plan.
On r/RobinhoodPennyStocks a few users were discussing $ATOS, a biotech company. As a scientist, teacher, mom, and wife of a nurse, biotech stocks get me excited. Supporting a company I believe in while making money is the ultimate dream. I followed the news and ultimately invested 30% of my available funds. The more I followed $ATOS, the more I saw $GME and $AMC trend. Initially, I was not interested. GameStop is a company that has received so much of my money over the years. AMC also benefits from my limited funds during non-Covid times. Curiosity piqued, I began looking into it. Assessments regarding their liquidity, reorganization, and future prospects convinced me that it was a solid investment. That wasn’t enough to press the purchase button. (I think Tesla is a great investment opportunity but I do not have enough capital or time) Before the market opened on 1/27, I tried to purchase shares of AMC. After several attempts, I was able to secure 25 shares, GameStop prices were much higher so I sunk $50 and bought a fifteenth of a share. I strapped in and began watching the marker’s roller coaster ride. During the last week, the price has fallen over the last week and I used profits from other trades to purchase additional shares. As of today, I am the proud owner of 2.5 $GME and 57 $AMC. I sold enough at the highest points to cover losses and ensure that I can hold without impacting my plans.
Why did I get involved? Nostalgia + Anger at WallStreet + Potential $$$
The better question is: why didn’t you get involved?
Do I think the $50 will lead to riches?
No
Do I think I will gain some profit over time?
Yes
Was it a good investment?
Yes
