B0ycey wrote:I agree. I wouldn't advise anyone to bet on GME because it may as well be classed gambling at the moment. My point is if you believe Collric knew something more than speculation than you should bet on his word. But I know that is was merely coincidence because chatter on Reddit at the moment is saying we are destined for another buy up like it has always been. In other words we are reading the same thingsize as everyone else is. I however wouldn't come on here and say a "rocket" is certain and to bet on this. It may well happen. It probably will happen. And if it does I don't want you to say I "called it". Because the only thing I am going on is Reddit posts.
Yes, it's gambling. Isn't all stock buying gambling though? I know the classical distinction of 'trading' vs 'investing', the former having the connotation of spuriousness and the latter of long-term considerations and prudence. But in this day and age those lines are pretty well blurred beyond recognition. For my part, should I come into any cash, I'd be inclined to buy land if possible (of course therein lies another entirely different conversation related to asset price inflation).
Any buying of stocks is basically a thing which involves research as the main work output. Of course you can always just buy stuff willy nilly, or buy what SeekingAlpha tells you, or whatever; I suppose the less work you put in the more purely gambling, or something. Research means studying the company and the stock; reading the financial filings (annual and quarterly reports); listening in on the earnings calls; studying the company and it's industry and markets; etc.
From that standpoint though, if you are looking at playing this GME game, reading wallstreetbets is also research. You say they say it's going to shoot up again, I wouldn't have known that, as I haven't read the posts on the reddit page. I visited the page a couple times, but haven't read much of it. I presumed that Ric had been reading the Reddit page and was figuring based on it, and perhaps some other circumstances. As it were, the ousting of the CEO preceded the most recent rocket launch.
But yeah, sure it is gambling, in the sense that Wall Street is one big casino. However, it is not purely gambling, because it is also coordinated to some extent. The media term 'activist investing' also attains in a very big way. Gambling merely refers to a crap shoot. There is clearly more than a quick roll in a dice game to this gamestop saga.