And all the greedy gushes out through their small souls. And all the lazy leaks down over their brash bodies.
“The kids these days say, ‘No risk, no ‘rari,’” said Patrick Wieland, a content creator and day trader who has in recent weeks poured thousands of dollars into ProShares UltraPro QQQ. (“Rari” is slang for Ferrari.) Shares of the fund, a triple-leveraged ETF that aims to generate three times the daily performance of the Nasdaq-100 index, notched double-digit gains during a historic rally on April 9, but are still down more than 20% this month. […]
Kiel Elliott, a Los Angeles-based executive at an entertainment studio, spent roughly $40,000 scooping up GameStop call options in early April. Calls, which offer the right to buy a stock at a set price, typically represent a bet that a stock will gain.
Elliott calls himself a “degenerate gambler” and says the market’s twists and turns have made for the perfect trading environment. GameStop shares have gained 25% this month.
[…] “The whole economy is a meme stock now, so enjoy the ride” feels like a grim but useful explanation.
