ASX chief executive Dominic Stevens says the “gamification” of equities trading could lead to younger investors chasing returns disconnected to the fundamental value of stocks.
But he says an Australian equivalent of the GameStop short squeeze, in which a retail investing army mobilised on Reddit to force big losses onto hedge funds, would be unlikely due to structural differences between the Australian and US sharemarkets and oversight by ASX staff and systems.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
