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Recapping the week’s Reddit-fueled Wall Street saga

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Julie Hyman, Brian Sozzi and Myles Udland recap the week’s wild price action in “short-squeezed” names like GameStop and AMC Entertainment, and what we can expect in the weeks and months ahead.

Video Transcript

MYLES UDLAND: Well, there are about five hours left in the trading week. Our week is wrapping up here, folks. But we're still going to have coverage here at Yahoo Finance. So, Julie, Brian, at the risk of saying something that might get proven untrue over the next five hours. Julie, I'll start with you. What's your take from this week? What can we take to the bank on a thing we think we might have learned from all this?

JULIE HYMAN: I mean, listen, one of my takeaways from this whole situation is, and I know that you wrote this morning that this sort of perception is that Robinhood is the current villain in all of this. My perception and my takeaway is, as usual, things are more nuanced than they would be portrayed. In other words, are those Redditors heroes? Are they villains?

They're just people. Some of them are just trying to make money. Some of them are trying to make a point. Some of them jumped in too late just because they thought that they could make some money and are going to get wiped out. And likewise, people who run hedge funds are people. And some of them are probably not very nice and some of them are nice, you know what I mean?

To sort of paint all of this as these monolithic entities and blocks misses the humans in some cases behind this. I mean, to that point, "The Wall Street Journal" is just out with an interview of so-called Roaring Kitty, the guy on YouTube who made an early case, an early, fundamental case for GameStop. So I think it's worth remembering that. Is this too namby pamby as a take? I don't know.

BRIAN SOZZI: Well, I have a couple of takes I wrote down on my digital notepad. One, I wouldn't expect to see the Robinhood IPO direct listing any time this year. Next up, financial literacy is perhaps-- we don't like reading any of this stuff, but to understand finance is now more important than ever. There's a lot of good stuff on Yahoo Finance regarding that. Number three, sometimes fundamentals don't matter. PE ratios, who gives a damn? Does not matter.

Sometimes stocks will simply go up because you're in a bubble. And not least, please use Yahoo Finance Premium. It has a great bunch of stats to learn a lot of stuff on it. And it's going to be eventually very important when this bubble pops.

MYLES UDLAND: All right, Sozzi, you get a cookie for being the best company man of the show here. I'll just say, I think to your point about financial literacy, I think people know more than they've ever known about the stock market. One of my guiding principles in life is, everyone knows everything. And the reason why is you can look anything up. Anyone can learn as much as they want about any topic.

I think a lot of people playing in the market actually do know exactly what they're doing. And I think they understand the risks way, way better than we believe. And also, I think the system works. The problems that Robinhood are having is because of regulations that have been put in place as a result of all the things that have happened in the financial system. And let us not forget what an amazing consumer benefit it is that you can get a pretty good mark on any stock at any time for free. And I know that's been used the wrong way, but it's a pretty amazing subsidy here, considering the way people used to have to pay to get into the stock market.