GameStop: How the Reddit retail trading crowd ran over Wall Street pros

Wall Street has been watching GameStop in awe as a band of Reddit-obsessed retail investors managed to push the stock up 1,500% in two weeks, squeezing out short-selling hedge funds. A wave of at-home traders found each other on the red-hot “wallstreetbets” Reddit chat room, whose members have ballooned to over three million. By motivating each other to keep piling into shares and call options, they coordinated a monstrous short squeeze in the brick-and-mortar video game retailer. “Retail investors with the help of technology acting as a union in attacking is a new phenomenon,” said Jim Paulsen, chief … (full story)

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