Wall Street Cassandras Don’t Scare WallStreetBets Retail Army
- GameStop recovers from Thursday drop as platforms allow trades
- Professionals remain convinced day-trade mania will end badly
Photographer: Tiffany Hagler-Geard/Bloomberg
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A wild week on Wall Street ended as it began: with the retail army blowing up short bets, punishing hedge funds and minting small fortunes off the most-hated shares.
Following relentless promotion on Reddit’s WallStreetBets forum, GameStop Corp. surged 68% on Friday, taking its five-day gain to a staggering 400% as the S&P 500 Index fell 3.3%.