Meanwhile, some traders believe that the GME short-squeeze can have tough consequences on traders. Jordan Belfort, famous as the “The Wolf Of Wall Street” warned traders and said that investing in GME can be risky.
Belfort told BBC on Tuesday, “You must be so careful because eventually these stocks are going to come crashing back down to earth, as will silver. If you are looking at this as a way to make your living, you’ll have to catch a falling knife on the way down. I would urge people to take their chips off the table.”
Did Brokerages disadvantage GME traders?
In conjunction with GME and AMC rally, many brokerages such as Robinhood and IG were restricting trading in the stock. Consequently, many traders raised questions on whether exchanges are favoring hedge funds and Wall Street traders by restricting opening positions in GME and other soaring stocks. Elon Musk, billionaire and CEO of Tesla (NASDAQ: TSLA) questioned Robinhood’s CEO Vladimir Tenev, Musk described the restrictions as shady.
