Manage episode 285192440 series 2773382
Gamestop, Robinhood, Hedge funds, Reddit; there's a good chance you've been hearing these terms being thrown around, but what exactly is going on? This week, Jordan and Joshua break down the timeline events of that made Gamestop stock soar and make redditors millionaires overnight. Journalist and writer for VICE MOTHERBOARD Matthew Gault simplifies how the stock market works, what "shorting" is, the major conflicted interest with Robinhood's involvement, and how savvy redditors banded together and created this frenzy. Fellow MOTHERBOARD writer and GME investor Jason Koebler, who wrote his own explainer of the entire situation, discusses why Robinhood appealed to young investors, including the subreddit r/wallstreetbets that lead to Gamestop stock to soar, which in turn angered hedge funds who shorted the stock. Plus, Jason discusses how this seemingly David vs. Goliath story has a darker side when looking at the toxicity of wallstreetbets and what the future holds for this brave new stock market that might not fully represent the valuation of companies and the economy at large.
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