An army of rookie investors shocked the world a year ago. But did the Davids really beat Wall Street’s Goliaths?
When Reddit became the rowdy center of the investing universe last January, its co-founder Alexis Ohanian called the frenzy a “revolution” and a “chance for Joe and Jane America, the retail buyers of stock, to flex back and push back.” Maybe one day, he mused, the members of Reddit’s WallStreetBets forum could do more than just ambush hedge funds—they could outperform those highly paid investors.
The rookies who transformed videogame retailer GameStop into the hottest stock on the planet thought they had a twofer: sticking it to Wall Street while making a bundle themselves. But the revolutionaries didn’t do a good job on either count. The share price hovering over Mr. Ohanian’s shoulder during his Jan. 28, 2021, CNBC interview would be almost as high as it got.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street Crypto Firm Valkyrie Is Holding a $700M Protocol TreasuryNEW: ValkyrieFunds will oversee NEMofficial’s $700 million token treasury in a novel tie-up between an asset manager and a crypto protocol. realDannyNelson reports
Read more »
Polish-Belarus border wall threatens primeval forest, environmentalists sayPoland should delay construction of a new barrier through the primeval Bialowieza forest that straddles its border with Belarus until it can prove that it will not harm local wildlife, UNESCO and environmentalists said.
Read more »
The Federal Reserve Has Fueled Wall Street at the Expense of the Rest of Us“The Fed’s policies over the last decades have stoked the world of Wall Street. It has pumped trillions of dollars into the banking system and thereby inflated these markets for stocks, for bonds. And that drives income inequality.”
Read more »
Robo-Advisor Dream of Disrupting Wall Street Wealth Is Not Working Out Exactly as PlannedWealthfront and Personal Capital were acquired by financial services firms in billion-dollar deals. Not bad exits, but far from the loftiest fintech dreams.
Read more »
The New Wolf of Wall Street: DeFi 2021 Overview and 2022 Outlook | HackerNoonThe rapid growth DeFi in 2021 exposed many flaws in the pioneering new financial system. In 2022, we look forward to improved security, insurance and more.
Read more »
Wall Street rallies, capping frenetic week with best day of the yearWall Street surged on Friday, notching its best day so far in 2022 after another zigzag session, ending a tumultuous week marked by mixed corporate earnings, geopolitical turmoil and an increasingly aggressive Federal Reserve.
Read more »