The Gamers’ Uprising Against Wall Street Has Deep Populist Roots
Wall Street may own the country, as Kansas populist leader Mary Elizabeth Lease once declared, but a new generation of “retail” stock market traders is fighting back.
Ellen Brown, SheerPost, 10 February 2021
A short squeeze frenzy driven by a new generation of gamers captured financial headlines in recent weeks, centered on a struggling strip mall video game store called GameStop. The Internet and a year off in this shut down to study up have given a younger generation of investors the tools to compete in the market. Gerald Celente calls it the “Youth Revolution.” A group of New York Young Republicans who protested in the snow on January 31 called it “Re-occupy Wall Street.” Others have called it Occupy Wall Street 2.0.
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The Reddit/GameStop aftermath continues. Now, it’s been reported, investigators at the US Securities and Exchange Commission (SEC) are allegedly scouring posts on social media and online message boards for evidence of fraud and coordinated stock-price manipulation in the hype that led to recent unlikely surges in the stock prices of GameStop, AMC Entertainment Holdings, and a few other companies.
So much has been written about GameStop stock it seems pointless to offer yet another take on its saga now. It also seems pointless to guess what motivated the Reddit crowd or why the short sellers hung on for as long as they did. All that is water over the dam, as the saying goes.
As just about everyone knows by now, investors communicating on the Reddit forum WallStreetBets drove up the stock price of GameStop while openly discussing both their tactics and their reasoning. Some of them purchased GameStop shares as part of a strategy expressly intended to squeeze hedge funds that were shorting the stock. Others simply saw the stock as undervalued.
LaSalle Vaughn is the 
Kevin Wyatt is an Insurance & Business Risk Head at Robinhood based in Menlo Park, California.
Heather Breslow is the Head of Research at Robinhood. As the Head of Research, Heather is responsible for building research as a strategic capability of Robinhood. Before joining Robinhood in 2017, Heather was a Senior User Experience Researcher at YouTube.
Baiju Bhatt is the co-founder of Robinhood, the fastest-growing brokerage in the world. In 2013, Bhatt co-founded Robinhood with Vlad Tenev, aiming to democratize the financial system. The company has millions of users across the country and is currently valued at $8.6 billion. Bhatt earned his B.S. in Physics and M.S. in Mathematics at Stanford University.
Vlad Tenev is the co-founder and CEO of Robinhood. A first-generation immigrant from Bulgaria, Tenev earned his B.S. in Mathematics at Stanford University before starting two finance companies in New York City, selling trading software to hedge funds. In 2013, Tenev and longtime friend Baiju Bhatt co-founded Robinhood, a zero-commission brokerage dedicated to democratizing the finance system. The company has millions of users across the country and is currently valued at $8.6 billion.