Help me explain to husband this AMC thing. I’m clueless about the stock market but know it’s a barometer for many of you. All I’ve ever known was it’s rigged. I mentioned to husband maybe he needed to buy based on a couple of posts I’ve seen on this board. Thanks in advance pedes!
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In my opinion, GME (GameStop) is the real play.
It has significantly fewer shares, so the squeeze will be much more pronounced. The industry is less susceptible to be hurt by any COVID restrictions. The CEO is top notch. (former head of Chewy) They keep poaching Amazon talent. And if you need further proof, the MSM keeps telling everyone to drop GME and to buy AMC. So, there ya go.
None of this is financial advice, blah blah. If you want more non-financial advice, check out /r/superstonk on Reddit. I lurk there because I closed my account a long time ago.
Oh, and what happened is the greedy hedge funds naked shorted the stock at a ridiculous level. They were sure it would fail like Sears, blockbuster, and toys r us and they would never have to pay back the money. Now, game stop is as strong as ever, and they are royally screwed.