Business
‘Unlikely to end well’: Retail investors warned on overhyped Reddit stocks – Sydney Morning Herald
Professional money managers are warning retail investors the Reddit-fuelled rush into unloved tech stocks will end in tears.
We all have a pretty good sense of where this ends up.
Stake founder Matt Leibowitz says the cohort of users trading GameStop stock has grown five-fold in January.
Pengana international equities deputy portfolio manager Steven Glass said retail investors must keep in mind that stocks like GameStop are currently being driven higher by pure speculation.
Theres a lot of bravado, about we want to destroy institutional investors. Thats not a reason for buying things, he said.
Posters on Wallstreetbets…
-
Noosa News12 hours agoMan charged over allegedly abandoning Arnie the German shepherd in car after claiming dog and vehicle were stolen
-
Noosa News13 hours agoMotorcyclist dies in crash with truck
-
Noosa News13 hours agoSomerville House investigating after teachers’ dossier on students leaked
-
General18 hours agoSmall-town cleaner finds himself in legal battle with EnduroShield over product packaging