What Everyone Got Wrong About GameStop, Reddit, and Robinhood
For those who don’t have a pressing reason to follow the financial press, the activities of a bunch of day traders and hedge fund managers is the kind of subject that can reliably make even the most restless minds slip into a comfortable slumber. Short squeeze, margin call, gamma squeeze, what? But for the better part of a month in early 2021, it was almost impossible for anyone to look away from the market.That was when a troubled video-game retail chain based in Grapevine became, seemingly out of nowhere, the crux of the new phenomenon of meme-stock trading, wherein a bunch of online commenters organize to bid up the price of a stock by buying it en masse and holding on for dear life (or…
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Source: Texas Monthly