Wall Street was in a tizzy last week after a band of Redditors on the forum r/wallstreetbets worked together to drastically inflate the stock price of brick-and-mortar retailers like GameStop. The guerrilla stock-buying surge caused some hedge funds shorting GameStop stock to lose a boatload of money, and a David vs. Goliath narrative emerged—but the story is more complicated than that.
On this special panel, hosted by TRNN Editor-in-Chief Maximillian Alvarez, we talk about what actually happened last week on Wall Street, who the winners and losers are, and what this whole saga means for those who want to resist the domination of finance capital. Our brilliant panel includes: Doug Henwood, economic journalist and host of “Behind the News”; Kate Aronoff, staff writer at The New Republic and author of “Overheated: How Capitalism Broke the Planet—And How We Fight Back”; and Edward Ongweso Jr., staff writer at Motherboard (Vice) and co-host of “This Machine Kills” podcast.
Read the transcript of this video: https://therealnews.com/gamestopped-wallstreetbets-wall-street-wins
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** (Disclaimer: This video content is intended for educational and informational purposes only) **
