‘This is going to end badly’: GameStop gamers battle risk in fight against Wall Street
Susan Tompor | USA Today | Jan 29th, 2021
The David versus Goliath story plays well, especially in political circles, but rich guys often finish rich on Wall Street. The rules of the game can quickly change — and not in David’s favor.
“Some are calling this the ‘French Revolution of Finance,’ ” said Sam G. Huszczo, a chartered financial analyst in Southfield.
“Rumors have it that Reddit’s WallStreetBets board users are targeting companies to manipulate prices for profit and targeting hedge fund managers’ short positions in an effort to put them out of business,” he said.
“Some view this as a redistribution of wealth, others as market manipulation. Either way, I don’t envy the murky waters that the SEC will be forced to navigate ahead.”