The whole GameStop saga was 90% stupid people and 10% smart people

I've been seeing a lot of posts in this sub, and other chambers, about how the GameStop saga was some David vs Goliath event where a group of small time traders banded together to screw over some big hedge funds.<br><br>In reality, it was a bunch of stupid people throwing their money into GameStop stock *after* it had blown up and chosen hedge funds still managed to end up with millions in profit.<br><br>The only people who actually made money out of all this were the 1% of the GameStop traders who were smart and the hedge fund CEOs who managed to make a few million out of the 50 million they lost.