Any budding investor with the slightest interest in investing and stocks would have seen their Facebook and social media feed dominated with memes and articles on WallStreetBets and GameStop these few weeks.
In one of the most exciting time in recent history, retail investors on reddit forum WallStreetBets (or “retards” as they call themselves; an anagram of ‘traders’) ganged up to squeeze hedge funds out of their short positions on GameStop.
The collective action of individual investors drove GME’s price up from just around US$20 in mid-January, to reach a record high of US483 by the end of January, a spectacular 2415% returns.
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