BONUS: Can't Stop GameStop

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4.2 • 6.2K Ratings

🗓️ 30 January 2021

⏱️ 28 minutes

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Summary

In 2019, GameStop seemed to be just another failing brick-and-mortar business. But a couple of internet dwellers at Wall Street Bets, in a strange corner of the giant forum, reddit, thought the hedge funds were making a mistake.

On this episode of NPR's Planet Money: how a standoff between big market movers and an irreverent community of anonymous traders erupted into an epic showdown that is changing the way people think about power on Wall Street.

Listen to Planet Money wherever you get your podcasts, including NPR One, Apple Podcasts and Spotify.

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Transcript

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0:00.0	Hey, R.E. Shapiro here.
0:02.1	It's Saturday, and we have a bonus episode for you.
0:05.1	There's a pretty good chance you've been following the big story in stock trading this
0:09.1	week.
0:10.1	Quick summary, struggling companies like GameStop and AMC were given a huge boost by a bunch
0:15.2	of Reddit users using an investment app.
0:17.9	It's a lot to keep track of.
0:20.1	So who better to explain everything that's been happening than our colleagues at NPR's
0:24.5	planet money?
0:25.5	They're really good at making sense of just this sort of thing.
0:28.8	So here's Planet Money Hosts, Alexi Horowitz-Gazi and Jacob Goldstein.
0:33.0	I mean, well, first of all, can we use your whole name?
0:42.8	I should ask as a reporter.
0:44.2	I appreciate it if you didn't.
0:46.2	Okay.
0:47.2	No.
0:48.2	Why is it that you prefer not to use your name?
0:51.6	I work for some very large company and using my full name would out me.
1:00.0	So basically because you're linking your online persona to your real world self, it might
1:06.3	cause trouble at work, basically.
1:08.0	Yeah, it's a big no-no.
1:09.6	Okay.
	...

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