They were so successful geting their clients to speculate in these stocks that they just were too successfulthy they almost overheated. And all of a sudden, they went from being a sort of this broker, this up that said it was democratizing finance, to being public enemy number one. People were raking them over the coals. They thought, you must have gotten a call from some hedge fund that was losing a lot of money and done this to save them. That's why they couldn't do it. But of course, that's when everyone went crazy. There are probably like five more further conspiracy theories built on that that have been kind of way out there because of this sense
#361: Wall Street Journal columnist Spencer Jakab marks the one-year anniversary of that weird time when the subReddit Wall St Bets pumped shares of meme stocks like GameStop and AMC Theaters, triggering a short squeeze that forced several hedge funds to lose billions.
What did we learn from that experience? And how do we actually take down Wall Street? How do we launch a truly effective financial revolution?
We share those insights in today’s episode.
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