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For those of you who haven't heard, the stock market and social media is going absolutely wild right now in a battle that pits wealthy hedge funds against amateur investors from Reddit's "wallstreetbets" subreddit. Recently, hedge funds have been loosing billions of dollars after amateur investors foiled their attempt to "short sell" GameStop stock. In this article, I'll explain what's why the hedge funds lost billions, the "Revenge of Wall street", and how crypto plays a role in all this.
For those of you who haven't heard, the stock market and social media is going absolutely wild right now in a battle that pits wealthy hedge funds against amateur investors from Reddit's "wallstreetbets" subreddit. Recently, hedge funds have been loosing billions of dollars after amateur investors foiled their attempt to "short sell" GameStop stock. In this article, I'll explain what's why the hedge funds lost billions, the "Revenge of Wall street", and how crypto plays a role in all this.