The lessons of GameStop: How Wall Street can stop markets being manipulated
By Andrew Ross Sorkin
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There will be academic case studies on the mania around GameStopâs stock. There will be philosophical debates about whether this was a genuine protest against hedge funds and inequality or a pump-and-dump scheme masquerading as a moral crusade. Eventually, we will learn whether this was a transformational moment powered by social media that will shift the investing landscape forever, or a short-term blip that soon fades away.
Whatâs less up for debate is this: The public has a deep distrust of the stockmarket and everything it represents. That lesson has been laid bare by the anger coursing through the Reddit posts and Twitter threads of GameStop traders and throngs cheering them on.