In a word no, but we are definitely seeing even more new curveballs. Unless you have been totally tuned out the past few days you have been inundated with Bernie memes and news about a certain game retailer, and other stocks being marshalled by social apps.
You remember that place don’t you, where you went into a brick-and-mortar retail store to trade game discs for new games. And now one is trading at a multiple 100 times earnings. Have you seen masked people rushing into their stores to buy disks instead of downloading over the net? Me either, it’s not happening.
So, what’s going on? Part of it, people are bored, working from home and signing up to websites like Reddit r/Wallstreet, and are literally herding 3 million small investor movements on this stock and others generating a Short-Squeeze with options and pressuring big Wall Street firms.
What could go wrong? Well, we of know of one person who got in early, turned a small account into a large account. Except now his account is locked by the App in that squeezed stock. Looks good on paper, but if the stock eventually returns to a lower price, he may or may not still be way up. Today, the App allowed sales again. There are other issues as well.
Have questions? Reach out to us and we can give you details.