How a bunch of Redditors made GameStop’s stock soar, much to the chagrin of the hedge funds attempting to short it.
Who knew the first big 2021 stock market story would be … GameStop? But here we are.
There’s been a boom in day trading and individual investing over the past several months — activity that’s often taking place or being discussed on platforms such as Reddit and Robinhood instead of in more traditional arenas. And one big question amid the frenzy has been how much the little guys really matter. Sure, small-time investors trade a lot, sometimes to the annoyance of more traditional institutions, but are they really consequential?
When it comes to the GameStop saga, at least, the answer is … Read the rest...