Watching the GameStop meltdown brought out the economics nerd in me that I lost in high school right around when microbiology seemed like the coolest shit around.
Watch me explain how a Reddit forum is saving the economy but also possibly shutting it down. Don’t get me wrong, the bubble will burst at some point soon, I just hope it swings the pendulum against the hedgefucks.
My favourite part about this entire thing is the public realization that Wall Street isn’t as rational or analytical as people thought, there isn’t really a lot of brainpower going into this as they want you to think. It was, is and has always been a dick-measuring contest among those who have money to throw around. If those are the rules, then let everyone play.
If they keep holding, this would be big for retail investors. But also for brokerage firms as the next wave of experimental, hungry and driven individual investors might not be so kind.
Power to the people. Make them bleed green.