This story was originally published here.
As a member of r/WallStreetBets, a popular Reddit forum, let me tell you this: It wasn’t supposed to ever happen. Our happy band of rag-tag investors was supposed to use our little corner of the internet to exchange risky stock investment ideas, not take down one of America’s most prominent hedge funds.
Yet here we are. In the past week, traders reading WSB and other forums have pushed GameStop (NYSE:GME) and a host of other highly shorted stocks to impossibly high levels, bankrupting at least one hedge fund and causing several platforms to halt trading. So ham-handed was Wall Street’s response that Congress members Ted Cruz and Alexandria Ocasio-Cortez, long-sworn enemies, even managed a coordinated tongue-wagging (Twitter-wagging?) at the U.S. financial system.
But as Citadel picks up the pieces of Melvin Capital and Reddit users find their next short-squeeze target, people are starting to ask, “what’s next?” Story continues here.
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List of Top 1% of Stocks Leaked to Public
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Sincerely,
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Weiss Ratings
