Game stonk: From rags to riches

The recent increase in GameStop shares by 1,700% have taken Wall Street by storm. Retail investors fuelled by a group of Reddit members from a subreddit known as WallStreetBets have employed a classic Wall Street tactic to push the price of the stock up. The group is known for their discussions on stocks and options trading. After the discovery of a stock that institutions were shorting, the group decided to buy the stock’s options, causing the institutions to buy more shares in order to cover their losses. This caused the market value of the stock to rise over $10 billion, over a span of two days. As the landscape changes, we now see a changing dynamic in the finance world – financialization is no longer limited to bankers in Zegna suits.

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