Business
Reddit traders wage battle against Wall Street – The Australian Financial Review
GameStop sits at ground zero of a battle that has shown these have-a-go investors are no longer just a sideshow.
Years before Reddits founding, day traders swapped stock tips on sites like RagingBull.com and Silicon Investor. One online tipster, known as Tokyo Joe, became so popular he started a website, drawing thousands of paying subscribers. He ultimately drew the scrutiny of securities regulators in the dotcom boom, and agreed to pay $US755,000 ($974,445) to settle a regulatory suit.
Market watchers see similarities to that era now. Shares in GameStop surged 145 per cent to their peak on Monday (Tuesday…
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