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The Breakdown, With NLW

WallStreetBets Is Occupy Wall Street With Teeth

The retail trader insurgency has massive implications for the future of capital markets.

January 28, 2021
Listen on:
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Secure Your Seat

The retail trader insurgency has massive implications for the future of capital markets.

This episode is sponsored by Nexo.io.

Download this episode

This week, a collective of foul-mouthed internet memers took down some of Wall Street’s best-known hedge funds. In today’s episode, NLW looks at:

  • The historical context of how the Great Financial Crisis set the stage for WallStreetBets
  • How WSB gained infamy during the COVID-19 crisis by correctly predicting the market’s rebound while other investors remained bearish
  • Why WSB started going after short-sellers, particularly around GameStop (GME)
  • How WSB forced a short squeeze that required Melvin Capital to call in nearly $3B of emergency capital
  • Why Robinhood forcing users to stop buying GameStop and other related assets will go down as an inflection point in the history of capital markets

See also: Retail Traders Sue Robinhood Over Meme Stock Restrictions

Image credit: Spencer Platt/Getty Images News and WallStreetBets Subreddit

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