Like many, I spent a lot of time this week reading up on why the stocks of moribund but highly recognizable businesses like GameStop, AMC Theatres, BlackBerry, and Blockbuster were suddenly rocketing upward, thanks to the combustible combination of apps like Robinhood, which offers commission-free trading (though it has since controversially restricted this), and the stock-pumping forums on Discord and Reddit, most notably one called r/WallStreetBets, famously self-described as "if 4Chan found a Bloomberg terminal." There are probably hundreds of explainers by now that go into the arcana of short squeezes, order flow, and delta hedging on one side (I generally find Matt Levine's
Hold the line
Hold the line
Hold the line
Like many, I spent a lot of time this week reading up on why the stocks of moribund but highly recognizable businesses like GameStop, AMC Theatres, BlackBerry, and Blockbuster were suddenly rocketing upward, thanks to the combustible combination of apps like Robinhood, which offers commission-free trading (though it has since controversially restricted this), and the stock-pumping forums on Discord and Reddit, most notably one called r/WallStreetBets, famously self-described as "if 4Chan found a Bloomberg terminal." There are probably hundreds of explainers by now that go into the arcana of short squeezes, order flow, and delta hedging on one side (I generally find Matt Levine's