What does the GameStop stock frenzy tell us about capitalism?

The closing days of January shook Wall Street with a struggle between powerful stock market players and amateur investors that left investment firms reeling with billions in losses. On one side were hedge funds that had bet big on stock prices dropping for the video game store chain GameStop and other companies. On the other, a large number of small investors coordinating on online platforms such as Reddit’s WallStreetBets forum to buy shares and encouraging others to do the same. These hedge funds were blindsided as prices quickly shot up in a matter of days fueled by amateur investors flooding the market with small purchases of GameStop shares. As of Jan. 29, investors who had bet against GameStop had racked up $19 billion in losses with the company’s stock price up some 1,800 percent since the beginning of the year. What happened, and what can working-class people learn from it? Read the full article: https://www.liberationnews.org/what-does-the-gamestop-stock-frenzy-tell-us-about-capitalism/