>“I’m still holding my shares but I don’t expect to see my ~$1200 ever again,”lamented one GameStop investor on Reddit. “Who knows… Maybe it will still go to the moon. I’d be thrilled! But, until then I will hold,”said another latecomer on AMC.
>As meme stocks have fallen from their peaks, Redditors have encouraged each other to adopt the “ostrich strategy”: ignore the losses for long enough, and maybe they’ll go away.
>Much of this feeling was fueled by others doing the same — and in some casesposting screenshots of doubling down. (Whether all these images are 100% real are up for debate). But the rest of it comes from younger investors’ natural tendency to personify losses. If losing money makes you stupid, then simply never realize those losses. It’s an age-old strategy of short term self-care with long-term costs.
You're not a bagholding redditor, are you?