GameStop frenzy: how Reddit ‘nerds’ sparked a Wall Street bloodbath

Jan 28, 2021 | INVESTING

Across most of America, GameStop is just a place to buy a video game. On Wall Street, though, it has become a battleground where swarms of smaller investors see themselves making an epic stand against the 1 per cent.A group of amateur investors, organising using the online platform Reddit, has fought the trend. A group calling itself WallStreetBets with some three million members who exchange tips and boast about beating “the system”, is credited with pushing up GameStop shares and roiling the…

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