What will stop a 401(k) day trader from blaming a plan fiduciary for allowing them to have a self-directed brokerage account? Nothing. The implosion of Gamestop’s stock, but again, it’s a dying business. Track trade credit or cash value estimates and find nearby store locations. Shop anywhere on your device and pick up at a store or have purchases shipped to you. Discover the things you can do with the GameStop app. Gaming Accessories chevronright Shop all. Many Gamestop investors blame Robin Hood’s trade restrictions. PC Gaming Arcade Shop all Consoles & Hardware View More go back. The problem sometimes with fearless investing is the insistence on blaming others when the stock goes bad. What we don’t need is 401(k) participants with that fearless type of investing. Made money with Gamestop, what about those who got in at $400?
Still is trading 9-10 times what it’s worth and it’s amazing how many of the Reddit group members were insistent they would hold on to the stock no matter what. Gamestop is a $10 stock but was trading north of $400 before it crashed down back to double digits. The volatility of owning the stock and seeing the volatility of Gamestop and the attitudes of members of the Reddit group is just another reason why I hate self-directed brokerage accounts for 401(k) plans. I joined in for a couple of days with the purchase of AMC stock that I quickly dumped after only making a couple of hundred dollars. What the Reddit group wallstreetbets did with Gamestop in a short squeeze was something quite amazing.
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