Reddit vs Wall Street: Financial insurrection
The GameStop phenomenon isn’t just speculation. It’s anger. Does it mean Wall Street is broken, or working as it should?
Like much of the rest of the world, SA’s financial commentariat has been captivated by the bizarre story of GameStop, a once barely known US video game retailer whose share price rocketed more than 1,700% last month.
Its incredible run has prompted a series of trading bans and responses from everyone from the US Securities & Exchange Commission (SEC) to US congresswoman Alexandria Ocasio-Cortez...