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No heroes or villains on Wall Street

The problem with treating the GameStop saga as an Occupy Wall Street movement 2.0 is that it ignores some fundamental differences

Topics
Wall Street | Hedge funds | Reddit

Prosenjit Datta 

Prosenjit Datta

The GameStop saga has fired the imagination of people, even those who are ordinarily not interested in the business of stocks and bonds. The poetic justice of entitled Hedge Fund managers who were shorting a stock and were brought to their knees by a rag-tag army of day traders frequenting the sub-forum WallStreetBets who decided to drive the stock sky high is hard to miss. To many commentators, this is Occupy 2.0 — a move to teach the greedy rich elite who have been rigging the game forever a lesson they will not forget.

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First Published: Wed, February 03 2021. 22:51 IST
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