How common is it for people to become rich overnight in stocks?

Question

I know seasoned investors are probably annoyed by this question, but I really have to ask. yesterday a really crappy company with the stock ticker SPI went up 3800%, from what I can tell, the company is mediocre and basically trash. But any random idiot who invested at least $2,000 a night before, would have made a ridiculous amount of money the next day.

I feel like any random idiot is getting rich now from the stock market. Am I just being delusional or am I right?

? · Answer

I would not call $76,000 rich ... especially after taxes were taken out. {Nice, but not rich.}

Erik · Answer

Everyone loves the idea of putting in a small amount of money and then getting rich, but the stock market works better for people who are already rich to become richer.

StephenWeinstein · Answer

It happens sometimes, but it is more common to lose money in the stock market.

The Oracle of Omigod · Answer

The problem is, at which point do you know it is time to sell?  That situation almost never happens.

Slickterp · Answer

Not in any way common.  SPI has also dropped back way down

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How common is it for people to become rich overnight in stocks?

5 Answers