How online ‘degenerates’ took on hedge funds
Keywords:Gamestop, Finance, short squeeze, collective action, wallstreetbets
The spread of COVID-19 has forced many people around the world to adjust the manner in which they relate to and participate in the goings-on of the outside world. This article examines a seemingly novel attempt by a few amateur investors to take on the might of hedge funds’ cutting-edge algorithms. Our analysis includes an examination of short-selling, online investment communities and the problem of collective action they face. This piece examines how Wall Street betters on Reddit, with little or no experience, brought a new series of questions about regulation and speculative investing to the fore. We close by reflecting on the kinds of questions that people who are interested in the stock market (no matter their ability) might ask themselves in the very near future.
Copyright (c) 2021 Sven Van Kerckhoven, Sean O’Dubhghaill
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