Bonus Episode: GameStop Traders Rock the Financial Industry
After Hours
TED Audio Collective / Youngme Moon, Mihir Desai, & Felix Oberholzer-Gee
4.8 • 1.4K Ratings
🗓️ 29 January 2021
⏱️ 20 minutes
🧾️ Download transcript
Summary
Youngme , Mihir , and Rawi share their thoughts on how a group of individual investors went head-to-head with Wall Street hedge funds, pushing up GameStop’s stock price and raising questions for the entire financial industry.
Visit our website at HarvardAfterHours.com. Email your comments and ideas for future episodes to: harvardafterhours@gmail.com. Follow Youngme, Mihir, Rebecca, and Rawi on Twitter at: @YoungmeMoon, @DesaiMihirA, @RebeccaReCap, and @RawiAbdelal.
Transcript
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| 0:00.0 | Ted Audio Collective. |
| 0:02.0 | Audio Collective. |
| 0:04.0 | Hey listener, a quick favor. |
| 0:09.0 | We are conducting an audience survey and we'd be really grateful if you could take just a few minutes to respond. |
| 0:14.4 | Please visit survey.PRX.org slash after hours to take the survey today. |
| 0:21.0 | That's survey. |
| 0:22.1 | PRX.org |
| 0:23.4 | slash after hours. Thanks. |
| 0:27.7 | HBR presents. Hi everyone,'re listening to after hours I'm young me I'm me here I'm |
| 0:47.5 | and thanks guys for doing this on such short notice we do whatever you say |
| 0:51.5 | young we await your instructions at all times. |
| 0:54.0 | So, okay, we've just gotten a bunch of requests from listeners to weigh in on what's happening. |
| 0:59.0 | Specifically to a small group of stocks, the most prominent of which is probably GameStop, but also includes |
| 1:05.9 | AMC, Nokia, Blackberry, and some others. |
| 1:10.3 | So we're just going to tape a really quick episode in response and it is Thursday night as we tape this so keep that in mind as you listen to it |
| 1:19.1 | Okay to give you a sense of why we thought it was worth doing this. You know we're actually talking |
| 1:23.8 | about a relatively concentrated set of events. It's just affecting a small number of |
| 1:28.2 | stocks, but it is raising some really fundamental questions about how our financial markets operate, how they should operate, |
| 1:36.7 | what's fair, what's unfair, and so what specifically are we talking about here? |
| 1:41.4 | Well in recent days, let's take GameStop as an example, the |
| 1:45.4 | share price of this particular company has just gone through the roof. Not long ago |
| 1:49.7 | it was trading well below $20. |
... |
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