The trading world was in a tizzy recently over GameStop, of all things. Why? To cut to the chase we’ll say it had a lot to do with short selling “nostalgia stocks”, Robinhood Financial, and an army of Redditers.
Millennials grew up with GameStop, a video game buyer and seller. It was a staple for many gamers in their younger years, and has slowly been tanking over time. For lack of better words it’s a perfect target for hedge funds to “short sell” and make a profit.