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What the Hell Is Going On With GameStop’s Stock?

What the Hell Is Going On With GameStop’s Stock?

I’m sure there are some broader lessons here about the power of online communities, the illusion of efficient markets, post-post-capitalism and everything else people like to project to it with their confirmation biases, but for now: a fascinating prank with real consequences. Ingredients: A struggling company, hedge funds betting on its decline, an online community willing to buy shares to teach the evil capitalists a lesson (and, maybe, yet another hedge fund in the background, pulling the strings).

From Weekly Filet #332, in January 2021.

💔 Some older links might be broken — that's the state of the web, sadly. If you find one, ping me.