‘Little guys sticking it to Wall Street?’ WVU expert explains how Redditors gamed the stock market
One West Virginia University financial expert believes the recent stock surges of GameStop and other companies undermine public confidence in the market and could ultimately harm the economy. A coordinated effort by individual traders on social media platforms has manipulated prices for GameStop, AMC Entertainment, Blackberry and others, said Alexander Kurov, Fred T. Tattersall Research Chair and Professor of Finance in the John Chambers College of Business and Economics. GameStop stock shot up more than 1,700% since early January and, now, some trading platforms are restricting trades on the video game retailer.