Day traders shake Wall Street to its core
The GameStop saga has left investors wondering whether the rise of retail investor control is a flash in the pan or a new paradigm in investment returns.
It’s the trading mania story that has captured the world’s attention, moving beyond the realms of market insiders, onto the nightly news and into the corridors of power. The tale of the little-known and struggling video game chain with 4000 stores across the United States that became the most heavily traded stock in the world is almost too wild to be true.
There are moments in financial history that define a generation, and the extraordinary battle between hedge funds and day traders over shares in GameStop, and the revolutionary movement it has unleashed, looms as one of those.
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