Banking Bad: GameStop, How Reddit Users Brought Wall Street to its Knees

💸Welcome to Banking Bad - a podcast series featuring six true-crime stories from the world of money. 

Keith Gill, aka RoaringKitty and DeepFuckingValue, was a financial analyst and online trader who challenged Wall Street with GameStop, a retailer on the verge of bankruptcy. He shared his trades on Reddit, attracting a crowd of followers who bought GameStop shares, driving up the price and hurting hedge funds that had shorted the stock. In today’s episode, financial journalist Iona Bain and I look at how the GameStop saga stands as a testament to the potential impact of individual investors challenging established norms, and the key things investors can learn from this rollercoaster of a story.

SPONSOR

Thank you to our partner PensionBee: combine, contribute and withdraw online. Take control of your pension, so that you can enjoy a happy retirement and join 223,000 customers saving with PensionBee. https://www.pensionbee.com/vestpod  

When investing, your capital is at risk. Investments can go down as well as up, and you may get back less than you invest.

Hosted on Acast. See acast.com/privacy for more information.