Interesting points made with commentary. Agree its mostly about the ability to manipulate stocks in general. Does not seem to have a broader retail effect.
What does GameStop’s wild stock ride mean for retail? by Tom Ryan in Retailwire
GameStop, like many retailers struggling in recent years due to digital disruption, has become the poster child of a short-squeeze battle pitting amateur retail traders against Wall Street short-sellers.
Day traders on Reddit joined together to drive the video game retailer’s stock price up over the last two weeks in an effort to capitalize on hedge fund short-sellers betting GameStop would follow the path of Blockbuster.
From just under $20 a share on Jan. 12, shares of GameStop skyrocketed as high as $483 last Thursday, Jan. 28. That day, the stock trading app, Robinhood, and other online brokerages clamped down and curbed trades. GameStop crashed to $112.25 but recovered to close at $325.00 on Friday as some restrictions were removed. Institutional investors have lost billions in a matter of days as they were forced to liquidate their positions. ... "
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