That distant howl that you can hear is the collective screams of a million millennial daytraders going up in smoke:
Davey Day Trader at the Closing Bell – September 10, 2020 https://t.co/ixBgt0Lu40
— Dave Portnoy (@stoolpresidente) September 10, 2020
Each new generation thinks it is smarter than the last and that they are the first to discover how easy it is to make money on stocks “that only go up”.
What DDT is going through here, many of us went through twenty years ago in the first tech wreck. For me, it is bizarrely reminiscent of my own set-up at home. Music, chat rooms, refresh, refresh, refresh as my “new age” portfolio boomed for six months. PhD research forgotten.
But then the refreshes started to get more painful and compulsive and the phone started to ring with calls from my margin lender…
And day after day stocks went down.
