Why this meme is going viral and why 70 percent of private investors don't make money on the stock market

Herd mentality and its consequences

A vivid example is the 2021 GameStop hype on Reddit (there is a documentary about it on Netflix). Millions of investors bought shares at prices around $400—primarily because everyone else was doing it. Today, the price stands at around $25. A classic case of herd mentality.

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