The meteoric rise in GameStop’s stock, as traders congregating on Reddit and Discord take on short sellers and hedge funds, is hard to look away from. It’s the closest thing Wall Street has to David vs. Goliath.
People walk past The New York Stock Exchange in the financial district of Lower Manhattan, New York City on March 8, 2024. zz/NDZ/STAR MAX/IPx/AP A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can ...
A shrinking market: The stock market isn’t the economy (for the most part). And its influence over the macro environment has been fading for some time. At their peak in 1996, there were 7,300 publicly traded companies in the US. Today there are about 4,300. ...