The GameStop Saga Shows How Casino Capitalism Is Eating the World
On a typical day in early January, the stock for GameStop, or GME—a beleaguered brick-and-mortar video game retailer undergoing downsizing—traded at around $18, with about 6.5 million shares changing hands. With the pandemic devastating retail and much video game purchasing having shifted to digital channels, GameStop’s prospects were poor. It became one of the most shorted stocks on Wall Street—that is, hedge funds and other large investors bet billions that GameStop’s stock price would go down. Читать дальше...