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Afford Anything | Make Smart Money Choices

PSA Thursday: Wall Street Bets, GameStop, and the Rise of Meme Stocks

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Investing, Entrepreneurship, Business

4.73.6K Ratings

🗓️ 28 January 2021

⏱️ 23 minutes

🧾️ Download transcript

Summary

If you blinked, you missed the biggest stock market story since the crash of March 2020. It’s a story that led GameStop, a brick-and-mortar company that sells *physical* video games (remember when games came on 5.25-inch floppy disks?), to skyrocket its share price by 700 percent in two weeks. It’s a story of short selling, of high-frequency trading, and of individual investors who harbor deep anger towards hedge funds. It’s a story of social media vs. Wall Street ... and the innocent bystanders who get caught in the crossfire. That's the story we cover in today's episode. For more information, visit the show notes at https://affordanything.com/psathursday Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Welcome to PSA Thursday.

0:02.0

This is a weekly-ish, early-occasional bonus segment of the

0:06.6

Affordable Care Podcast, in which we talk about how to manage

0:09.5

your money in the context of, well, originally it was in the

0:12.9

context of 2020 and I was hoping that after 2020 would be over,

0:17.2

we could stop PSA Thursdays because we wouldn't be needing

0:20.2

them anymore.

0:21.4

But things are still weird.

0:23.3

And so today we're going to talk about meme stocks.

0:26.3

That's a phrase I never thought I'd say.

0:29.1

I love memes, I love stocks.

0:31.5

Never thought that they would be put together, but here we are.

0:34.3

For those of you who are brand new to the Affordable Care Podcast, PSA Thursday

0:37.8

is absolutely nothing like our normal shows.

0:40.5

As I mentioned, it was intended to address current events.

0:45.5

We created it in March 2020, right after the shutdowns began,

0:48.5

right after the pandemic began, to discuss how to manage your money,

0:52.2

your time, your limited resources in the context of all of the

0:56.2

changes that were happening around us in the context of the shutdowns and

0:59.3

the current events.

1:00.0

And so if you go through our PSA Thursday archives, you will find episodes

1:04.1

that we've done that relate to how to manage your student debts in the context

...

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