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How meme stocks changed Wall Street

·5 min read
How meme stocks changed Wall Street

At the start of 2021, no one would have suspected GameStop, then seen as a shopping mall relic, was about to embark on a vertiginous rally that would reconfigure Wall Street’s power dynamics. Propped up by a cadre of passionate retail investors dead set on hodling, the stock has defied the gravitational pull that eventually brings hyped-up public companies down to values in line with their business realities. Nearly a year after the WallStreetBets communities on Reddit and Discord orchestrated a massive short squeeze on GameStop shares, analysts and experts say the ordeal has not fundamentally changed the mechanics of Wall Street.