I'll be real with you, I've felt FOMO too. You see a stock all over your feed, everyone's posting gains, and it feels like you're the only one missing out. That's exactly how it works, and that's exactly the trap. GameStop hit $483 in January 2021 because it went viral, not because the business suddenly became worth that much. Then it fell over 90%. The people who got in late because of the hype were the ones left holding the bag. Viral isn't the same as valuable. A stock going up because everyone's talking about it is not the same as a company actually making money and growing. My rule now is simple: if I'm buying something just because I'm scared of missing out, I don't buy it. I wait, I look at the actual business, and then I decide. Have you ever bought a stock just because of FOMO? How did that one turn out?
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4 Comments
J K R@jkrunde · 1d
Yep I’ve had FOMO. Sometimes it’s worked out to making profits , other times no profits.
Nate
@hoodnate · 1d
that line about viral not being the same as valuable is sticking with me, i needed a reminder
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