GameStop, social media and momentum investing

Sat, 30 Jan 2021

Investors beware!The GameStop frenzy on Wall Street indicates that sharemarkets are undergoing a dramatic change that could have a major impact on share price movements in the months and years ahead.The world’s largest sharemarket, which has been controlled by brokers, investment bankers and hedge funds, is under attack from retail investors empowered by social media.Wall Street short-sellers have been ambushed by retail investors as GameStop’s share price has surged from US$43.03 to US$193.60 over the past week, with an intraday hi...

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