- Advertisement -
The unprecedented move by Redditors on the WallStreetBets forum to pump up the fledgling GameStop stock made countless casual investors a lot of money and created substantial losses at a few major hedge funds.
While the meteoric rise of GameStop’s stock price is a bubble that will soon burst, there are many who got out at the right time and are already spending their earnings.
Most of those who got rich off the scheme come from a cross-section of society that’s a lot less wealthy than the hedge fund managers they tried to take down. So a lot of the investors are using their earnings to cover the basics in life: paying down school debt, making a downpayment on a home, or contributing the money to a health savings account.
One of the big…
