The Reddit GameStop Saga Could Be The Next 'Big Short'
Anyone who has been online in any capacity over the last week has likely been bombarded by a collection of seemingly unrelated words: GameStop, Reddit, “short”, Robin Hood, hedge fund, and Elon Musk. For those still confused, it’s probably useful to consult a handy explainer (like this BBC article), though, given the uber-complex nature of the event, the whole situation is still rather confusing. In essence, a collection of online hobby stock-traders on Reddit have manipulated the value of retailerGameStop’s stock to such a degree that they have made millions, and hedge funds that werebetting on the chain’s devaluation stand to lose billions....