Y’all laughing but dude may win and it’s very likely.This mufukka took a second mortgage out on his parent's home and ain't told them shyt
REAL ESTATE
22-year-old risked parents’ mortgage on GameStop: ‘You only live once’
By Mary K. Jacob
January 28, 2021 | 4:50pm
Jack West took out a second mortgage to invest in GameStop, AMC stocks.Jack West/SOPA Images/LightRocket via Gett
Jack West bet it all when he took out a second mortgage from his parents’ to invest in GameStop and AMC stocks.
The next day, the 22-year-old Indiana native nearly lost it all after Robinhood — the trading app meant to “democratize finance” — halted the trades.
Fueled by Reddit users collectively taking on the Wall Street elites by betting on retail stocks that hedge fund managers usually short, the stock market went into a frenzy on Wednesday, Jan. 27.
But according to West, his intention was “to live in the moment,” and take a stand against the Wall Street establishment.
“As of right now I am terrified, but optimistic,” West told The Post, adding that his parents have no clue about his decision to take out a second mortgage on their behalf. West apparently made the move on Monday via a zoom call (without the camera on) with his hometown bank and the money took a couple of days to kick in.
“I bought into the hype. Why not? You only live once,” West said. “Value investing isn’t a thing anymore, and it’s really all about the hype.”
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West invested nearly $70,000 into the GameStop and AMC Theatres stocks using his parents’ mortgage as collateral. He was confident that the stock would see large gains.
“I am afraid right now,” West revealed. “Everything is changing by the minute.”
“Unfortunately, we can see again today that the free market isn’t free and once again our economy revolves around saving the rich.”
GameStop ($GME) went up to $530 a share, only to plummet down to $238 on Thursday after Robinhood, Ameritrade and others halted the trades.
“I feel like this is a monumental day in the trading industry to show that modern economic theory regarding it all can be proven wrong,” West said. “Robinhood was a reputable app (not anymore as of this morning). These are the consequences of investing in stocks that don’t follow their true value.”
I’ll quit my career and y’all would never hear from me again.If this somehow goes to 1k you will see pandemonium in the streets you hear me?