It’s a fable for our times: Small-time investors band together to take down greedy Wall Street hedge funds using the stock of a troubled video-game store. But the revolt of online stock-traders suggests much more.
GameStop
Another bout of selling gripped the U.S. stock market Friday, as anxiety mounts over whether the frenzy behind a swift, meteoric rise in GameStop and a handful of other stocks will damage Wall Street overall.
GameStop stock has rocketed from below $20 earlier this month to close around $350 Wednesday as a volunteer army of investors on social media challenged big institutions who had placed market bets that the stock would fall.
