Feeling incredibly stupid for potentially gambling away my postbacc tuition on $GME

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Doctoscope

Doctoscope

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I bought into the hype last Tuesday, and bet my remaining postbacc tuition money on $GME thinking it'll skyrocket. Now I need to put it all on credit cardS this coming week, with no idea if I can even safely get out of this stupid situation. I've lost -20% on paper after Thursday and Friday. I have no idea what I'm going to do if this next week goes sideways.

How could I be so stupid stupid stupid stupid stupid??? Maybe I don't deserve to be a doctor...

EDIT: Bought in WEDNESDAY, not Tuesday
 
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sunshinefl said:
I can't tell if you're serious.... but student loans would be better than credit cards if you are.
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Fortunately it's not THAT much money, so a CC is more sensible since it's an amount I can work off in a couple of months, but I still feel like a complete idiot for doing it.
 
DoctoOcto said:
Fortunately it's not THAT much money, so a CC is more sensible since it's an amount I can work off in a couple of months, but I still feel like a complete idiot for doing it.
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Making poor investment decisions are good to get out of the way early. It happens to everyone some time or another while playing stocks.

That said, Dogecoin to the moon!
 
clumsy.md said:
Making poor investment decisions are good to get out of the way early. It happens to everyone some time or another while playing stocks.

That said, Dogecoin to the moon!
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I genuinely believed $GME could actually hit $1k, and maybe it can, but the more I read and think about it the more it seems I'll be lucky to come out with minimal losses. I should probably sell ASAP on Monday when it's close to my buying price... but then I wonder what if it actually does hit $1k... (even if it probably won't)

Seriously, the anxiety this weekend is killing me.
 
DoctoOcto said:
I genuinely believed $GME could actually hit $1k, and maybe it can, but the more I read and think about it the more it seems I'll be lucky to come out with minimal losses. I should probably sell ASAP on Monday when it's close to my buying price... but then I wonder what if it actually does hit $1k... (even if it probably won't)

Seriously, the anxiety this weekend is killing me.
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It doesn't sound like YOU'RE in a position to make this gamble of whether or not it reaches 1k...5k...or whatever. This is post-bacc tuition money while for others on WSB, this is pocket change.
 
Rheopecty said:
How did you lose 20% if you bought on Tuesday? Did you have paper hands when they did the short ladder attack? Bottom line, the lesson to investing (especially in WSB genius DDs) is never lose money you can't afford to lose. Watch the premarket on Monday morning and get out of your position (or hold the line KEKW)
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Yep, panic sold a bit on Thursday. Hopefully I can get out Monday without much harm.
 
DoctoOcto said:
I bought into the hype last Tuesday, and bet my remaining postbacc tuition money on $GME thinking it'll skyrocket. Now I need to put it all on credit cardS this coming week, with no idea if I can even safely get out of this stupid situation. I've lost -20% on paper after Thursday and Friday. I have no idea what I'm going to do if this next week goes sideways.

How could I be so stupid stupid stupid stupid stupid??? Maybe I don't deserve to be a doctor...
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Perhaps not. Arriving late to a short squeeze does not portend good decision-making skills.
 
Med Ed said:
Perhaps not. Arriving late to a short squeeze does not portend good decision-making skills.
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And using their tuition money for it nonetheless. I understand not wanting to kick OP while they're down, but given that they're still toying around with the idea of GME hitting 1k, I don't really think it's getting through to them. Betting your tuition money is hugely reckless and definitely calls into question your decision making ability.
 
alm414 said:
And using their tuition money for it nonetheless. I understand not wanting to kick OP while they're down, but given that they're still toying around with the idea of GME hitting 1k, I don't really think it's getting through to them. Betting your tuition money is hugely reckless and definitely calls into question your decision making ability.
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Conversely, many physicians have pretty terrible habits with money. Perhaps @DoctoOcto will fit right in.
 
Are you eligible for any federal student loans? With their lower interest rates compared to credit cards, I still think you come out on top even if it's a relatively small amount of money.

Payments on Staffords are optional when you aren't official ly in loan repayment (i.e. when you're still in school), but you can certainly make them.

I just think the money saved on interest makes it worth a second thought, @DoctoOcto
 
SunBakedTrash said:
GME is about sending a message not making a fortune. Only invest money you don’t plan on getting back.

Not financial advice. 🦍 ❤️ Harambe 🚀 🦍
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^, take your money out once you can, obviously, we hope it'll go to the moon but no one knows if much less when that would happen

(that being said, I got some diamond hands with my measly shares babyy because I'm a big dummy)
 
joker+money.jpg


Anyone who jumped into GME above $300/share should have had the above mantra in their mind, playing over and over. Past $40 I figured I was more likely to lose than win. Could it hit $1000? Sure. Is it going back down to $20 at some point? ABSOLUTELY

You can cut and run, or double down and ride it into Valhalla.
 
thumbz said:
View attachment 328763

Anyone who jumped into GME above $300/share should have had the above mantra in their mind, playing over and over. Past $40 I figured I was more likely to lose than win. Could it hit $1000? Sure. Is it going back down to $20 at some point? ABSOLUTELY

You can cut and run, or double down and ride it into Valhalla.
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It's going to go back down to $6. With most of the hedge funds out, it's now a ponzi scheme with the most diamond handed ones set to lose it all
 
DoctoOcto said:
I bought into the hype last Tuesday, and bet my remaining postbacc tuition money on $GME thinking it'll skyrocket. Now I need to put it all on credit cardS this coming week, with no idea if I can even safely get out of this stupid situation. I've lost -20% on paper after Thursday and Friday. I have no idea what I'm going to do if this next week goes sideways.

How could I be so stupid stupid stupid stupid stupid??? Maybe I don't deserve to be a doctor...
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I feel you (to a lesser extent), bought into the dogecoin hype thinking it would actually make $1 per stock. Lost 300 dollars 😂
 
Well, it wasn't all of my tuition money, it's what was remaining for like 2-3 classes, so I'm not REALLY F'ed (it's an amount that you can realistically work off part-time in a couple of months).

I just feel like an idiot doing it because I bought in Wednesday (wrong about the day) near the peak (lol) for no good reason other than hype, paper handed a couple of shares, then bought more at the dip. Now that I can't stare at the price chart all day long during the weekend, I'm thinking a bit more rationally, and getting a crazy amount of anxiety.

WHO KNOWS MAYBE I'LL GO TO THE MOON NEXT WEEK (but probably not really).
 
LittleBrother said:
It's important to note your education is an investment tooo.


You just took money that was a fairly good bet on making a return on (one that was 100% in your control) and putting it into a situation you had no control over.
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yeah and I thought the whole point of $GME was to buy it and hold it forever.
 
thumbz said:
Semi on topic (apologies to the mods)

This is why I love and hate options all at the same time. Despite not selling they still have the nerve to expire worthless on me.

OP - don't trade options. That's how you get an ulcer
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"Okay I swear to God I'll sell once I'm in the green"
...
"Well I'm already up 20% why don't I just hold for another minute and see what happens"

*Sells for -10% loss*
 
viralhiker said:
"Okay I swear to God I'll sell once I'm in the green"
...
"Well I'm already up 20% why don't I just hold for another minute and see what happens"

*Sells for -10% loss*
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We've met haven't we?? Haha 😛

Edit - and now that I can just claim diamond hands (thanks reddit) as I watch it go from a 450% gain to expiring worthless (yep, this was an option I had last week)
 
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alm414 said:
And using their tuition money for it nonetheless. I understand not wanting to kick OP while they're down, but given that they're still toying around with the idea of GME hitting 1k, I don't really think it's getting through to them. Betting your tuition money is hugely reckless and definitely calls into question your decision making ability.
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yep clearly isnt fit to be a mighty noble doctor because they made a bad investment
 
ThatSerb said:
yep clearly isnt fit to be a mighty noble doctor because they made a bad investment
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I wouldn’t call throwing your tuition money into a high-risk, extremely volatile overvalued meme stock an “investment.”

If OP took those funds to Vegas I’d consider that a better idea. Or bet the money line on the bucs next Sunday. Or played an ITM debit spread on $AAPL. Or literally anything but BUY $GME STOCK AT $350 A SHARE
 
viralhiker said:
I wouldn’t call throwing your tuition money into a high-risk, extremely volatile overvalued meme stock an “investment.”

If OP took those funds to Vegas I’d consider that a better idea. Or bet the money line on the bucs next Sunday. Or played an ITM debit spread on $AAPL. Or literally anything but BUY $GME STOCK AT $350 A SHARE
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putting money in a stock is definitely an investment. i didn't say it was a good investment. in fact, I said it was a bad investment XD
 
ThatSerb said:
yep clearly isnt fit to be a mighty noble doctor because they made a bad investment
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1.) I made no claims about OP's fitness as a doctor. I called into question their decision making ability.
2.) I don't care at all about the content of the investment, or the amount of the investment. Invest $5,000 in Neopets for all I care. But don't use your tuition money to do it.
 
bluenette23 said:
I don't think this calls into question your ability to make sound decisions or whatever. The squeeze will happen eventually. Diamond hands! (Not financial advice lol)
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Why be a doctor on Earth when you can be a doctor on the MOON?
 
The fact that investors are pumping up the market cap of a company whose earnings don’t justify that value makes investing in Game Stop tantamount to investing in a pyramid scheme. However, investing in broad-based index funds over the long-term is one of the wisest financial moves you can make.
 
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I did some stock investing as a sophomore. ****ed up when I chased a penny stock squeeze, held baggage, lost like 1/4 of portfolio. Got lucky on another penny ticker that shot up 70% after a merger, covered my losses and made 2k, got the hell outta there and haven't played stocks since.

Premeds and med students don't got the time or deep pockets to gamble. Keep out until you're done with step 3.
 
Rheopecty said:
I mean, there's no reason to keep out completely. If students aren't interested in researching DD, buying and holding VTI/VOO (S&P500 Tracker) would grow money.
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Agree. There's a difference between gambling on penny stocks and investing in an index fund. They can still drop during market downturns so any money you invest shouldn't be money you're going to need in the near future.
 
OP I hope you were able to get out of your position without catastrophic losses. Maybe now you can move over to the thread where another poster is asking about using his student loan disbursement to invest and share with him what you’ve learned!
 
Got in at around way too high, got out at $90.
 
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