GameStop’s volatile course, fueled by social media influence, has hit the portfolios of individual investors like Vergara the most. Casual investors saw GameStop trading as a dangerous adventure, carrying the slogan “We come to life once” (YOLO). Many individual investors bought shares, thinking that the astronomical climb in shares would continue. Some managed to withdraw their money before the collapse in shares occurred. But others began to watch their shares lose out.
Working as a security guard in the US state of Virginia, Vergara began investing four years ago with a dream of retiring at a young age. Vergara, who owns a 1998 Honda Civic, says he consumes a lot of rice to save money and lives with his father. Diversified index funds worth 50 thousand dollars, which it owns, continue to store some of its savings. The young investor, who has long been a follower of the wallstreetbets subheading on Reddit, notes that other users bought the stock after being influenced by shares in the extraordinary earnings they received in relation to the GameStop stock.