1 week Seeking advice in this subreddit about what certain stocks are going to do in the future is the equivalent of asking the same to a magic 8 ball. Reddit     

I know similar stuff has been said here, but I keep seeing this problem still. This sub is great to look at DD’s at stocks and to get good stock news. However, it is incredibly ridiculous the amount of posts and comments here asking what x stock is going to do or how the stock market is going to perform next month. I would’ve thought it would be just the people who are new to the stock market or this subreddit, but there are actually a large number of people here that have been posting/commenting on the subreddit for a while, meaning they aren’t new here and they STILL do this.

However, this isn’t even the main problem. The actual problem is the people who reply to these posts/comments and they act like they know what they are talking about so they will say some BS with 100% confidence which probably will influence many of the people who don’t know any better. The more you think about it, the more concerning it actually becomes. I don’t believe ignorance warrants someone to getting screwed over so just because someone is dumb enough to trust a random redditor and lose money doesn’t mean they deserve it. This is very serious stuff since this is literally people’s money and I wish more people realized how awful it is that people will come here and look at any advice and dump their money into a random stock and then come back later with major losses.

I think this even applies to most people on this subreddit but at a more subliminal level. I have a feeling that there are many people here that still are prone to this, even if they don’t blatantly listen to random people. For example, pretty much everyone in this subreddit agreed to not buy anything during March because “the bottom hasn’t come yet”. I have even seen posts asking if the stimulus package would help the stock market and people pretty much agreed that it wasn’t going to do much (you can look at the threads if you want). People would reply to these posts with absolute confidence; not a “probably not” or “I don’t think so”, but a “It’s not going to do x”. When these posts/comments are constantly upvoted and replicated, this can even influence the people who disagreed, creating a conformity effect based on majority social influence and not factual information.

I guarantee you there are people here who were interested in buying in March when stocks were at a very low price, looked at this subreddits opinions, and ended up not buying them because the majority of people said not to. When in reality, that would’ve been the ideal thing to do, and they could’ve made a lot of money. I don’t know how these types of posts and comments are so popular on this subreddit, but they are. I am making this post to remind people of these things, and I don’t want the same thing to happen to as many people in the future.

submitted by /u/lil_layne
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