After trading under $20 at the beginning of the year, GameStop stock surged over 2,000% to a high of $469.42 on January 28–enriching many retail traders connected to the subreddit r/WallStreetBets, but costing at least one hedge fund billions of dollars. In an unprecedented move, multiple trading apps then restricted trading of GameStop stock and other stocks discussed on r/wallstreetbets.
“GameStopGate” raises questions about the fairness of financial markets, trust in financial and other “establishment” institutions, and the ethics of investing in the age of social media. Join PPE-affiliated graduate student Joseph Porter and a guest speaker to explore these and other questions.
Participants in this PPE salon will be asked to read two brief articles summarizing the events surrounding GameStop stock’s rise and watch one thirty-minute interview. Participants will also be asked to submit at least two discussion questions each ahead of time.