Gamestop, memestocks, and the revenge of the retail trader

Gamestop shares are set to rally 70% this morning when trading starts, extending a rally that has perplexed market observers, irked hedge funds, and generally made crypto’s recent rally appear soft and weak. Robinhood blew up the trading fee economy, and now along with a host of similar companies — Public.com with its social focus, Freetrade in the UK, and so forth — has made retail investing far more accessible than it was before to more folks. It’s something that was noted by none other than the founder of Reddit Alexis Ohanian who shared some thoughts on Twitter.

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