Well, that's an easy answer. It's pretty regular and common thing.
Back in late 2017:
There were lithium success stories, EV revolution, money to be made stories in every paper, on radio, even morning TV shows.
Many people who aren't that experienced with stock market went in hard made quick profits - told their friends and family - they went in -and so on. Everyone was a genius.
But they went in late, at the height of frenzy.
Many of those came on HC threads and said how they remortgaged their houses, maxed out their credit cards, took out loans and put their entire savings/retirement funds on single stock like GXY, PLS, AVZ, CLQ, AUZ, etc. Even the penny stock explorers.
There were lots of phrases being used like: "no brainer" "we gonna all be rich" "this thing is going to the moon" and so on. And a lot of words of encouragement and back tapping one another, up-ramping and vicious attacking of anyone who used words of caution, ridicule, etc. "Idiot downramper", "fool", "bitter fool that missed the chance of the lifetime", etc.
Then there were those who couldn't believe their luck when GXY dipped back to $4 after they missed the run and they went in. And those who made thousands of paper profits after entering @$3.70 went for more loans and more savings to top up.
Then there was unbelievable luck when GXY dipped to $3.50 and who wouldn't remortgage their house, max out credit card and get leveraged account from broker to go all in at crazy cheap SP of $3???
Well those people are selling as their loans are getting triggered with margin calls and they can't borrow any more money to avoid margin call.
Those who are laying awake at night and thinking what they are going to do because they lost half their savings, are in debt over the head.
Those who get cold sweat when they think how to tell their partner that they bet their retirement savings on stock market and they are down 50%.
It's those people selling. That are nowhere to be seen on HC threads anymore.
It happens all the time. That's why stock market experts like Buffet, Soros, everyone keeps repeating the 5-10 unbreakable investing rules:
Never bet all your money on single stock.
Never bet more then you can afford to lose.
Buy when everyone is selling and sell when everybody is buying.
etc.
But what do they know, right? There are smarter people on HC that started investing 8 months ago, lets listen to them....
Hope that clears it up for you (Although you should know that by now as you've seen this transfer of funds once or twice before)!
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