Article: Reddit day traders wanted to beat Wall Street to prove the system is rigged. Instead, they did it by losing.

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Reddit day traders wanted to beat Wall Street to prove the system is rigged. Instead, they did it by losing.

Tyler Sonnemaker , 04 February 2021

Keith Gill, the day-trading member of the Reddit group Wall Street Bets who is widely credited with igniting the recent GameStop trading frenzy, claimed in late January that he had turned his $54,000 investment into a $48 million fortune.

Days later, it had been sliced by more than half to $22 million, and regulators had set their sights on Gill, investigating him over potential disclosure violations.

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