>These aren't hedge-funds or big banks who are "smarter" than me.
I'm not sure your assumption here is correct.
I'm not sure your assumption here is correct.
Its a well known fact that Robinhood traders are buying up the Hertz stock.
How many are holding $10 as a joke?
And even with the "Users Holding" metric, it's not even in the top 100: https://robinhood.com/collections/100-most-popular
edit: Hrmmm, they don't show it on that list, but it has 170k holders, putting it around the 55th most popular holding (by user count, not $!)
This is a stock which had far fewer than 5000 holders a few months ago, and now has 170,000 holders in Robinhood.
> How many are holding $10 as a joke?
Fewer than 165,000 people. While I'm up for allowing a certain level of stupid waste their own money... the number of buyers is beginning to make me worried.
You know that any stock that goes up and down by 500%ish in a few days is going to attract the attention of "dumb money". We all know where this is going.
Yeah, dumb money will do what dumb money does. A fool and their money are soon separated, etc. etc. The morality question we have to pose to ourselves however, is how "stupid" is "too stupid". Surely you draw a line somewhere?