SR -Today a rare addition of future forward as Alexa and I admit that we absolutely don’t understand what’s going on.
AS Which isn’t to say we’re not gonna try. What’s happening on Wall Street, known broadly as “gamestop” is a pending both the left and the right.
SR – So to explore we’re bringing on a guest. But not just any guest, her name is Katie Perry (not that one) the head of marketing@public.com one of the new trading platforms in the middle of all this.
AS -She’s joining us on the pod to dig into how grassroots traders are out-numbering the short sellers. But it’s far more than that
SR– I’m Steven Rosenbaum, and this is future forward
AS – I’m Alexa Scordato, let’s launch.
hi Katie
“For years, the stock market has been less and less about the value of business and more and more like casino gambling,’’ said Senator Elizabeth Warren, Democrat of Massachusetts, who called for increased regulation of Wall Street shortly after the market frenzy over GameStop began this week.
“It’s not about Republicans and Democrats,” said Newt Gingrich, the former Republican House Speaker and an ally of Mr. Trump. “It’s lots and lots of normal, everyday people who began to figure out they really got ripped off for the last year just like they got ripped off in 2008 and 2009.” He added, “What you’re seeing is an almost spontaneous cultural reaction in which the little guys and gals are getting together and going after the bigs, so the bigs are having to rig the game in order to survive.”
On Reddit, the online site that helped fuel the surge, few of the mostly young participants frame their flood of investments in clearly partisan terms. Yet many write of being driven by anger over the 2008 financial bailouts that kept the big banks afloat while 10 million Americans lost their homes.
Most of the ire this week was directed at Robinhood, a brokerage app catering to younger investors, which suddenly limited trading in GameStop, AMC and other stocks.
About The Author
Steve Rosenbaum