Wall Street Experts Claim Gamestock Pheneoma Could Never Happen Again – This is Why They’re Wrong

It caught the stock market off guard and shook the world of finance to its core. While it only lasted momentarily, it gave the impression that such an event could happen again in the future. 

Rebecca Angelo, one of the writers involved in the film, said, “This story is like a spark, and a spark is very easy to extinguish, but also, under the right circumstances, it can start a bigger fire.”

Among the better-known names is Paul Dano, Pete Davidson, Vincent D’Onofrio, America Ferrera, Nick Offerman, Anthony Ramos, Sebastian Stan, Shailene Woodley, and Seth Rogen.

Angelo continued, “But once you know your power, it never goes away, and a group of people who used to be invisible are visible now, and there’s no undoing that the cat is out of the bag.”

Wall Street pros refer to these amateur retail traders, who buy and sell stock using their own money, as “Dumb Money,” hence the title of the movie. 

They were alerted to the stock’s potential thanks to some savvy investors who shared the tip with users on social media platforms like Reddit. 

Shorting refers to the practice of betting the value of a company’s stock will fall by borrowing the shares and selling them at market value, hoping they will eventually repurchase them at a lower cost.

It was a remarkable point in history, as, for once, the people ruled part of the stock market. In a very 21st-century fashion, the amateur traders created an entire community using emojis, GIFs, and videos to bond over their recently acquired stocks. 

Reflecting on the entire event, she said, “We realized really quickly that this wasn’t a narrow, ultra-specific story about the market so much as it was a cultural story.”

“The short answer is no. While a market event like GameStop could well happen again, it is important to recognize that the clearing and settlement framework worked perfectly in this case and, what is more important, through all the pandemic,” wrote Javier Hernani for stock market news publication The Trade.

“All the trends pointed in this direction, of increasing isolation, the wane of institutions that used to be the center of communal life, and pushing more and more people to finding a community online, said Angelo.

“People are longing to be part of something bigger than themselves.” And while the GameStop saga was a “form of social protest against the haves and have-nots,” it was also a way to be “part of something bigger than our everyday existence alone, trapped alone at home, and a way to find connection,” said Blum.