Billy Johnson, an independent journalist working with MyTopSportsbooks, has investigated the top 10 epic losses on the infamous SubReddit. The Reddit forum r/WallStreetBets has been a hub for budding investors in recent years, notably during the 2021 GameStop Stock Saga, offering a plethora of financial advice.
During the COVID-19 pandemic, the popularity of r/WallStreetBets surged and became a news piece of media outlets across the world. The page became the headquarters for various schemes to try and take advantage of available stock floats on various assets, with people using the popular trading app Robinhood to access the stock market.
For anyone that’s ever tried their hand at the stock market, you’ll be acutely aware of the potential risk. Much like gambling, playing the stock market feels great when you’re on top, but things can sometimes go wrong, very wrong. They put together a list of the most epic losses incurred by those investors that forgot the importance of risk management.
In some cases, users tripped up because they were probably too young to be investing, with one case of a 19 year-old losing every last dollar in his trading account.
The emergence of cryptocurrency and personal investing has seen your average Joe make millions. But, this success is far less common than we’re led to believe. Whether it’s miscalculating the market, overestimating the potential of assets, or just making bad bets, we’ve all covered the misfortunes of overambitious investors.
Have You Seen Bigger Losses Than These Unfortunate Investors?
