Wall St. v. Reddit

There are times when I weigh in on a subject I know little about, which we all do, of course, because the amount of possible knowledge in the universe is as large as the entire universe, maybe even more so, and our brain capacity is limited to the amount of information that can be stored in a brain that’s no bigger than a small rabbit.
But, for today’s topic, we are at a confluence of several things I know nothing about. I’d never heard of GameStop until yesterday, although they bill themselves as the world’s largest retailer of video games. I guess they are, or were at some point, a big deal in the U.S., where I haven’t lived for over 20 years. Reddit is something I’ve heard of, of course, in the same way I’ve heard of TikTok, SnapChat, Instagram, and maybe a half dozen others. I’ve heard of them, but never used them, and find them all a bit confusing. Shorting stocks is something I’ve read about, and understand the concept, sort of, I think, but am not going to try and explain it here. Go to Google, type in ‘shorting stocks’ and get it from somebody who knows what they’re talking about.
But, I’m fascinated by the story of how a bunch of Reddit users beat the hedge fund managers who were trying to short GameStop stocks, and made them cry. I am happy with anything that makes billionaires cry. Way to go, Reddit. More of this kind of thing, please.

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