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What the heck just happened on Wall Street?

by yyctimes
January 28, 2021
in National
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What the heck simply occurred on Wall Avenue? – 660 NEWS

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by the large story

Posted Jan 28, 2021 5:04 am MST


A girl wears a face masks as she walks previous a GameStop retailer in Des Plaines, Ailing., Thursday, Oct. 15, 2020. The most recent battleground between the proletariat and the hedge funds serving the 1% isn’t on simply any road. It’s on Wall Avenue. No less than, that’s the view inside a military of smaller-pocketed, optimistic traders who’re throwing {dollars} and purchase orders on the inventory of video-game retailer GameStop. (AP Picture/Nam Y. Huh, file)

In at this time’s Large Story podcast, the traders got here from Reddit. They got here in droves. They purchased GameStop inventory and despatched it hovering. They price large hedge funds a whole bunch of hundreds of thousands of {dollars}. They despatched shockwaves via the markets. Now a full-fledged mania is underway, with a number of different shares in play as effectively.

How did all this occur? Is it a fluke? A brand new technique that may change the sport? Will the individuals who have the facility on Wall Avenue take steps to close it down? And what occurs if and when these bubbles burst?

GUEST: Mike Eppel, Sr. Enterprise Editor, 680 Information, CityNews

You may subscribe to The Large Story podcast on Apple Podcasts, Google and Spotify

You may as well discover it at thebigstorypodcast.ca.

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