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Bloomberg Live.com slash automation slash radio. Hello and welcome to Tracey Allaway.

Tracey Alaway.

Tracey, we're finally recording the episode the episode well yeah it's definitely

what everyone is talking about isn't it it's the only story in financial

markets right now we've got a million requests to do it, we're talking about

GameStop, obviously.

Yeah, where to even begin describing this. There's a

subreddit called Wall Street Bats. Yeah. And a bunch of people on the

subreddit decided to trade Game Stop. There are a bunch of different theories about why they looked at that

particular stock, but what's happened since then is that they've basically forced it to go up by an

astronomical amount. We've seen people on the other side of that trade,

notably a hedge fund called Melvin Capital that had a big short position,

has suffered massive losses and basically had to be thrown a lifeline by some other hedge funds.

And meanwhile we've seen this phenomenon of I guess social media fueled specific stock targeted trading, this retail trading on mass.

We've seen that extend to a lot of other stocks in the market,

AMC, American Airlines, and OK.

There's a lot going on right now.

I don't even think I did it justice.

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