Business
Wolves in fleece jackets: Gen Z faces dark side of Reddit rebellion – Sydney Morning Herald
The GameStop frenzy has captivated markets and the media, but there is a dark side to this rebellion and not all traders are on the same side.
Armed with sharemarket trading apps such as Robinhood, youth traders used popular online discussion forum Reddit to hatch their plans to push the share price of GameStop up 1500 per cent in January, turning a company that was worth less than $US290 million ($382 million) a year ago into a $US24 billion-valued business, albeit briefly.
The buzz was short-lived GameStops shares have since fallen back to $US53 from a high of $US483. But its clear the rebel traders wont be going away quietly.
The Reddit…
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