Organised individuals can alter financial market dynamics. A problem for public order that do not have a solution – Originally published in Italian by Formiche.net
A group of self-organised investors via the Reddit platform managed to prevent a speculative action on the Gamestop video game chain’s stock by carrying out one opposite direction .
Goliaths of Wall Street had bet on the collapse of the stock of a company that was already in bad shape, the Davids of the Internet began to buy shares, causing the stock to soar. As a result, the professional investors who had sold out are running the risk of losing staggering sums of money, not because there are any objective reasons for this (e.g. Gamestop’s incorrect value assessment), but because a (large) group of people, coming out of practically nowhere, have used the same tools of great speculation against them. Continue reading “Gamestop, Public Order and Social Singularity”