Ricochet is the best place on the internet to discuss the issues of the day, either through commenting on posts or writing your own for our active and dynamic community in a fully moderated environment. In addition, the Ricochet Audio Network offers over 50 original podcasts with new episodes released every day.
Over the course of two weeks in January 2021, the stock price for GameStop – the brick-and-mortar video game retailer – rose by a shocking 1,500 percent. Suddenly, a handful of hedge funds who had shorted GameStop’s stock, betting that the stock price would go down, found themselves the victim of what’s called a short squeeze.
What made this wild ride on Wall Street different is that the short squeeze was organized and coordinated by retail traders, primarily on online chat forms like Reddit and Discord, and executed on retail, commission-free investing apps like RobinHood.
What actually happened in the GameStop short squeeze? Are there are identifiable heroes and villains in this story? In what way is this a financial manifestation of our populist political moment? And, how particularly should Christians think about this market rollercoaster?
In this episode, we talk with David Bahnsen – the founder, managing partner, and chief investment officer of The Bahnsen Group – to simply and clearly explain the GameStop story, and what is likely to come of it.
See acast.com/privacy for privacy and opt-out information.
Subscribe to Acton Line in Apple Podcasts (and leave a 5-star review, please!), or by RSS feed. For all our podcasts in one place, subscribe to the Ricochet Audio Network Superfeed in Apple Podcasts or by RSS feed.