Finally an episode not about Covid19.
The digital world rejoiced briefly, for their savior had arrived. Reddit's forum wallstreetbets came alive this past week after identifying that some major hedge funds had bet against the value of Gamestop, and placed short options against it. Redditors pooled together to drive up the stock price and drive several hedge funds out of business!
The aftermath however has been crazy, with retail apps such as Robbinhood turning on it's own users and many government regulators saying this activity needs to be reigned in and not allowed to continue.
What needs to happen? Should this be reigned in? Will Reddit take over the globe as our sole source of financial recommendations and expertise?
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