1312: Lessons From the Gamestop Squeeze and "Meme" Stocks: One Year Later

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 31 January 2022

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

On the one-year anniversary of the Gamestop stock squeeze that took over market headlines, what are the key lessons everyday investors need to understand from that weird, erratic phenomenon in financial history? What does it reveal about the Wall Street's "game" and the true winners and losers? Are trading platforms like Robinhood helpful or harmful? And is this certain to happen again? Our guest is Spencer Jakab, award-winning financial journalist at the Wall Street Journal, former stock analyst, and author of The Revolution That Wasn’t: GameStop, Reddit, and the Fleecing of Small Investors. Want more articles and videos by Farnoosh? Check out www.cnet.com/somoney. Subscribe to her weekly So Money newsletter for the latest updates and advice. Catch her weekly money videos on YouTube. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So money is brought to you by CNET, the site that shows how to navigate change all around us.
0:06.8	MailChimp would like to talk to you about customers. A customer is what happens when marketers
0:12.0	fail to personalize their marketing, grouping customers with very different behaviors into one
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0:28.8	it MailChimp, the number one email marketing and automation brand. Based on customer numbers,
0:33.9	per verification email, advertising at MailChimp.com. So money episode 1312, Spencer, Jacob,
0:39.8	Wall Street Journal reporter, and author of the new book The Revolution that wasn't GameStop,
0:45.4	Reddit, and the Fleecing of Small Investors.
0:49.4	You're listening to So Money, with award-winning money grew for our new star Robbie.
0:54.0	Each day, in a 30-minute dose of financial inspiration from the world's top business minds,
0:59.2	authors, influencers, and from Parnucia itself. Looking for ways to save on gas or double
1:05.8	your double coupons? Sorry, you're in the wrong place. Seeking profound ways to live a richer,
1:11.3	happier life. Welcome to So Money.
1:15.8	Obviously, there are people who made money and they're going to be a lot of people who
1:18.8	object and people who write to me when I write about this and say,
1:21.5	hey, you know, I made a ton of money, screw you. But, okay, of course, there are always people
1:26.3	who make money. They're people who made money buying.com stocks at the peak. But as a group,
1:32.0	it wasn't a really profitable exercise for all these young people.
1:35.6	Welcome to So Money. Everybody, Monday, January 31st. About a year ago, today, Wall Street
1:40.8	experienced one of his biggest headlines, the GameStop Stock Squeeze. Remember that? It was that
1:46.6	crazy money story of a particular stock GameStop that surged thousands of percentage points
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