Wall Street was defeated. How Reddit turned the stock market upside down

It all started in November 2020, when one of the Reddit users called the company promising and expressed dissatisfaction with the hedge fund Melbin Capital, which opened short positions in its securities.

On January 28, the Robinhood service banned users from opening long positions on several securities, including on GameStop. The investors then filed a class action lawsuit against the company. However, you can fully trade the instrument using its tokenized copy, which is presented on Currency.com.

However, experts predict that over time, the value of GameStop shares will return to more or less standard indicators, since Reddit's activity does not solve the company's main problem - its concept of selling discs with games is becoming obsolete every year. But Wall Street officials have yet to study what happened, and perhaps things will unfold differently. "They turned out to be smarter than we thought", noted the famous American investor Jim Kramer