Banking Bad: GameStop, How Reddit Users Brought Wall Street to its Knees
11/23/23 • 27 min
💸Welcome to Banking Bad - a podcast series featuring six true-crime stories from the world of money.
Keith Gill, aka RoaringKitty and DeepFuckingValue, is a financial analyst and online trader who challenged Wall Street with GameStop, a retailer on the verge of bankruptcy. He shared his trades on Reddit, attracting a crowd of followers who bought GameStop shares, driving up the price and hurting hedge funds that had shorted the stock. In today’s episode, financial journalist Iona Bain and I look at how the GameStop saga stands as a testament to the potential impact of individual investors challenging established norms, and the key things investors can learn from this rollercoaster of a story.
RESOURCES
Full article: https://www.vestpod.com/news/the-wallet-podcast/gamestop-saga
Listen: https://pod.link/1520695849/episode/d2e2adc2602913a7c584904eccc0351c
Iona Bain: https://twitter.com/ionayoungmoney
SPONSOR
Thank you to our partner PensionBee: combine, contribute and withdraw online. Take control of your pension, so that you can enjoy a happy retirement and join 223,000 customers saving with PensionBee. https://www.pensionbee.com/vestpod
When investing, your capital is at risk. Investments can go down as well as up, and you may get back less than you invest.
Hosted on Acast. See acast.com/privacy for more information.
💸Welcome to Banking Bad - a podcast series featuring six true-crime stories from the world of money.
Keith Gill, aka RoaringKitty and DeepFuckingValue, is a financial analyst and online trader who challenged Wall Street with GameStop, a retailer on the verge of bankruptcy. He shared his trades on Reddit, attracting a crowd of followers who bought GameStop shares, driving up the price and hurting hedge funds that had shorted the stock. In today’s episode, financial journalist Iona Bain and I look at how the GameStop saga stands as a testament to the potential impact of individual investors challenging established norms, and the key things investors can learn from this rollercoaster of a story.
RESOURCES
Full article: https://www.vestpod.com/news/the-wallet-podcast/gamestop-saga
Listen: https://pod.link/1520695849/episode/d2e2adc2602913a7c584904eccc0351c
Iona Bain: https://twitter.com/ionayoungmoney
SPONSOR
Thank you to our partner PensionBee: combine, contribute and withdraw online. Take control of your pension, so that you can enjoy a happy retirement and join 223,000 customers saving with PensionBee. https://www.pensionbee.com/vestpod
When investing, your capital is at risk. Investments can go down as well as up, and you may get back less than you invest.
Hosted on Acast. See acast.com/privacy for more information.
Previous Episode
Banking Bad: Surviving the Dotcom Bubble with Martha Lane Fox, Lastminute.com
💸Welcome to Banking Bad - a podcast series featuring six true-crime stories from the world of money.
In this episode, I speak to Martha Lane Fox, the co-founder of lastminute.com, Europe’s biggest travel and leisure website. She started the company in 1998 with Brent Hoberman, and sold it in 2005 for a whopping £577 million when she was only 31. We revisit this fascinating story and discuss how they raised money for their innovative idea, how they became one of the most popular online travel platforms during the dotcom boom of the early 2000s, what happened after they went public, and how Martha’s life was changed by a serious accident.
SPONSOR
Thank you to our partner PensionBee: combine, contribute and withdraw online. Take control of your pension, so that you can enjoy a happy retirement and join 223,000 customers saving with PensionBee. https://www.pensionbee.com/vestpod
When investing, your capital is at risk. Investments can go down as well as up, and you may get back less than you invest.
BANKING BAD ARTICLE
Vestpod: https://www.vestpod.com/news/the-wallet-podcast
Podlink: https://pod.link/1520695849/episode/202ec779b529acb1a68eac5bfd3a8739
CONNECT WITH VESTPOD
If you want to read the main takeaways from the episodes, subscribe to our newsletter: https://www.vestpod.com/subscribe
Or read on: https://www.vestpod.com/podcast
Instagram: https://instagram.com/vestpod
DISCLAIMER
We are not certified financial advisers! The articles and information made available on Vestpod are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.
Hosted on Acast. See acast.com/privacy for more information.
Next Episode
Banking Bad: Unmasking the Wolf of Wall Street, Jordan Belfort's Financial Crimes
💸 Welcome to the last episode of Banking Bad, a podcast series that features six true-crime stories from the world of money.
🐺Are you familiar with the name Jordan Belfort? If not, you might recognise him as the infamous 'Wolf of Wall Street'. Belfort's journey in the financial world is nothing short of exhilarating — starting from his humble beginnings as a door-to-door salesman to becoming the mastermind behind Stratton Oakmont, a fraudulent brokerage firm that swindled millions from unsuspecting investors.
We look at the legal consequences that eventually caught up with him, leading to his arrest and imprisonment, and draw conclusions and valuable lessons from Belfort's life of excess.
SPONSOR
Thank you to our partner PensionBee: combine, contribute and withdraw online. Take control of your pension, so that you can enjoy a happy retirement and join 223,000 customers saving with PensionBee. https://www.pensionbee.com/vestpod
When investing, your capital is at risk. Investments can go down as well as up, and you may get back less than you invest.
CONNECT WITH VESTPOD
If you want to read the main takeaways from the episodes, subscribe to our newsletter: https://www.vestpod.com/subscribe
Or read on: https://www.vestpod.com/podcast
Instagram: https://instagram.com/vestpod
DISCLAIMER
We are not certified financial advisers! The articles and information made available on Vestpod are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.
Hosted on Acast. See acast.com/privacy for more information.
If you like this episode you’ll love
Episode Comments
Generate a badge
Get a badge for your website that links back to this episode
<a href="https://goodpods.com/podcasts/the-wallet-265956/banking-bad-gamestop-how-reddit-users-brought-wall-street-to-its-knees-37528465"> <img src="https://storage.googleapis.com/goodpods-images-bucket/badges/generic-badge-1.svg" alt="listen to banking bad: gamestop, how reddit users brought wall street to its knees on goodpods" style="width: 225px" /> </a>
Copy