That misses the significance of what happened. Gamestop was dying, advised by their bankers to close stores & tighten their belt. Those "retail bros" had a better idea; leverage the community & brand to build an online community & raise capital from those excited about it.
To me the only real takeaway from the SEC GameStop report is they confirmed the power of coordinated retail trading of stocks using social media. According to the SEC, a short squeeze & gamma squeeze did not explain the majority of GME price action. Retail bros buying did.
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Now, with the stock more than 10x from where it was under previous management & approach, its pretty clear that the "retail bros" outsmarted the Investment Bankers... More important, it shows the power of crowdsourced information generally & social media as a delivery vehicle.
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Agree - 900K individual investor accounts trading in the same period is staggering really, markets have changed fundamentally. Also value of the CAT shown here
Thanks. Twitter will use this to make your timeline better. UndoUndo
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