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Jan 29, 2021

This week, a collective of foul-mouthed internet memers took down some of Wall Street’s best-known hedge funds. In today’s episode, NLW looks at:

  • The historical context of how the Great Financial Crisis set the stage for WallStreetBets
  • How WSB gained infamy during the COVID-19 crisis by correctly predicting the market’s rebound while other investors remained bearish 
  • Why WSB started going after short-sellers, particularly around GameStop (GME)
  • How WSB forced a short squeeze that required Melvin Capital to call in nearly $3B of emergency capital 
  • Why Robinhood forcing users to stop buying GameStop and other related assets will go down as an inflection point in the history of capital markets

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