According2Sam #82

After a group of amateur traders started buying up GameStop stock and driving up the price a lot of people started freaking out. It started in a chatroom on a social media platform called Reddit, and the chatroom was called ‘Wallstreetbets'. The reason people started freaking out was because big hedge funds had bet against GameStop, and these amateurs were costing them billions. That is exactly what the people on Wallstreetbets wanted, to make the big Wall Street guys pay. They were sick of seeing them get rich off of companies going down in flames, and GameStop was a company they had grown up with. When they saw the stock was shorted above 140% they decided to get together and squeeze the big guys. The media called it David vs Goliath, and David was winning. The big hedge funds that had bet against GameStop were on the ropes, and after losing billions they we nearly out of the game for good. Then the electronic trading platforms that these small amateur traders were using to buy the stock stopped allowing them to buy. By doing this they were basically saving the large funds from certain collapse. Why would these brokers shut down buyers to save the big hedge funds, and how does what they did demonstrate that everything is rigged for the big guys? Join the conversation and get answers to these questions and more on According2Sam episode #82.