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03.02 - 20:48
Hedge funds scour Reddit a year after GameStop: ‘It’s the tip of the iceberg of generational change’
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fnlondon.comIt has been a year since the start of the GameStop saga, where a group of armchair traders on Reddit goosed the stock of the US video game retailer while burning short-selling hedge funds. Experts say that traditional finance should get used to it.
“The retail crowd is like a pop group that was deemed a one-hit wonder, but unexpectedly continued to storm the charts with new hits,” said Ivan Ćosović, founder of Breakout Point, a research firm that uses sources including Reddit’s WallStreetBets to analyse stocks for clients.
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