The hedge funds wanted to cash in on the Gamestop share. But then an erratic crowd simply bet against it and rocked everything. So did the little ones win, or did they just earn some money?
Jannis Brühl, Harald Freiberger and Jan Schmidbauer
On January 14th, Hendrik Fürholz became an investor. Until that day, he had nothing to do with stocks, he says. But in the previous weeks he had read about Gamestop again and again on the Internet. He read about the company in a forum on the Reddit website. He saw a video on Youtube in which a man in a cat t-shirt explained why the American retail chain’s stock was worth the ridiculous four dollars it was when the video came out. Why the hedge funds could be wrong in betting that the company’s stock price will continue to fall.
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