Organized Small Investors Plan to Crush Hedge Funds by Buying GameStop Stock
By Petr Svab January 27, 2021 Updated: January 28, 2021
A sizable group of small investors has threatened to bankrupt Wall Street hedge funds that have sought to profit from the downfall of the video game retailer GameStop. The investors have organized online to buy GameStop’s stock, forcing billions in losses on the establishment players that had bet on the company’s failure.
The exact origin of the phenomenon is hard to pinpoint but some have attributed it to an anonymous member of the Reddit forum called “r/wallstreetbets.”
The forum sports over 3 million members and focuses on retail investment, meaning investment by individuals, typically of small sums, into stocks and bonds.
https://www.theepochtimes.com/organized-small-investors-plan-to-crush-hedge-funds-by-buying-gamestop-stock