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The GameStop episode will be a game-changer for social media forums

The social media forums have demonstrated their collective power, which can increase volatility in illiquid stocks

January 28, 2021 / 09:18 AM IST
The GameStop episode will be a game-changer for social media forums

Source: AFP

  In what will go down as a case of David winning over Goliath in the market, a large group of retail traders, mostly millennial, managed to almost bring down some hedge funds by trapping them in one short-sell trade. GameStop, an NYSE-listed video game retailer has had a dream run in the market in January 2021, moving up from $19 on the first day of trading in the current year to a whopping $318 in the first session on Wednesday....

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