The GameStop Saga

[Jaysen]

This thread is for the general discussion of the Article The GameStop Saga. Please add to the discussion here.

 

[Jaysen]

Interested to read that the person who kickstarted this through his GameStop analysis is currently facing a lawsuit: https://www.bbc.co.uk/news/business-56106824.

"A man who became a key player in frenzied trading of GameStop shares last month has been hit with a class action lawsuit.

Keith Gill, known as 'Roaring Kitty' on YouTube, allegedly duped retail investors into buying inflated stocks while hiding his sophisticated financial background.

Mr Gill has downplayed his impact and rebutted claims he violated any laws.
Separately, he will testify on Thursday to Congress about the "Reddit rally".
"The idea that I used social media to promote GameStop stock to unwitting investors is preposterous," Mr Gill said in the prepared testimony.
"I was abundantly clear that my channel was for educational purposes only, and that my aggressive style of investing was unlikely to be suitable for most folks checking out the channel."

 

[Jaysen]

GameStop hearing is currently live!

 

[Jaysen]

Coming back up again?

 

[Holly]

Coming back up again?

View attachment 2996

 

[Jaysen]

And we're back!

 

[michhch]

Would you guys say that the GameStop incident is an isolated incident or do you think it has the potential to affect general market behaviour in a positive way (i.e. more scrutiny on corporate social responsibility)? I am very interested in this story and would love to talk about this in my upcoming interview - but I am not sure how to analyse it and link it back to law firm!

 

[Jaysen]

Would you guys say that the GameStop incident is an isolated incident or do you think it has the potential to affect general market behaviour in a positive way (i.e. more scrutiny on corporate social responsibility)? I am very interested in this story and would love to talk about this in my upcoming interview - but I am not sure how to analyse it and link it back to law firm!

I don't think it's an isolated incident, I think we'll just see it play out in different forms.

In the future, companies like Robinhood, Trading212, Coinbase, etc. will continue to reduce the barrier to entry for investing in securities. As online communities (through social media or otherwise) continue to grow, everyday investors will be able to have a larger influence on a company's share price. It's therefore something that companies and investors will have to factor into their strategies.

Reputation also becomes exceptionally important. It is now exceptionally easy to share positive or negative news about a company online and for it to spread very quickly. I'm sure that will only continue.

 

[michhch]

Thank you Jaysen! Always appreciate your valuable insight!

I don't think it's an isolated incident, I think we'll just see it play out in different forms.

In the future, companies like Robinhood, Trading212, Coinbase, etc. will continue to reduce the barrier to entry for investing in securities. As online communities (through social media or otherwise) continue to grow, everyday investors will be able to have a larger influence on a company's share price. It's therefore something that companies and investors will have to factor into their strategies.

Reputation also becomes exceptionally important. It is now exceptionally easy to share positive or negative news about a company online and for it to spread very quickly. I'm sure that will only continue.