April 2021 – Q1 Review
An epic battle between the ages was waged in the stock market over the past months, and it was one for the ages. Young amateur investors, those in their early to mid-twenties, were looking to squeeze profits out of old veteran professional investors by trading stocks against them. The premise of the young set was to unite an army of traders to take on and profit from the old guys. That army’s strategy was to pool their knowledge, through social media and online forums, and then pool their capital to buy, en masse, the shares of financially distressed companies with the view of forcing the old guys to buy those same shares off them later, but at higher prices.
Sounds like a plan.