Organized Small Investors Plan to Crush Hedge Funds by Buying GameStop Stock
A sizable group of small investors has threatened to bankrupt Wall Street hedge funds that have sought to profit from the downfall of the video game retailer GameStop. The investors have organized online to buy GameStop’s stock, forcing billions in losses on the establishment players that had bet on the company’s failure.
The exact origin of the phenomenon is hard to pinpoint but some have attributed it to an anonymous member of the Reddit forum called “r/wallstreetbets.”-- More...
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