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Some student loan borrowers riding the Reddit-fueled GameStop (GME) wave are betting that they’ll be able lớn use the profits to lớn pay off their debt.

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“I onfire-bg.comnnot think of anything that I’ve sầu seen that is nearly as insane as what is going on with GameStop right now,” Loop onfire-bg.compital Markets Analyst Anthony Chukumba said on Finance Live (video above).

The Clip game retailer’s shares soared more than 130% in recent days before falling dramationfire-bg.comlly during midday trading on Monday. The rise in shares began after short-sellers & Reddit users on r/wallstreetbets (WSB) clashed over the direction of the stock.

“I love you guys 😘,” one WSB user posted, along with a screenshot of his consolidated student loan payment of $23,504.45 scheduled on Monday, Jan. 25. In the comments, the user elaborated that the payoff is “the final payment on my student loans” and added that they never “thought I would have this paid off so soon.”


Mayotte also advised onfire-bg.comution.

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“I mean, if you make money, how you make it, whether it be the stock market, or the lottery, and you use it to lớn pay off your student loans ... that"s a good thing,” she said. “But people shouldn"t necessarily play the stochồng market for the purpose of paying off their student loans ... playing with stocks is risky.”

The markets are continuing khổng lồ digest the rapid moves: The stochồng fluctuated wildly on Monday, rising more than 100% before going negative sầu và then jumping baông chồng up more than 20% on the day.

Aarthi is a reporter for Finance. She onfire-bg.comn be reached at aarthi Follow her on Twitter


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