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John Authers

GameStop Is Rage Against the Financial Machine

Traders putting on the short squeeze aren’t motivated by greed. They’re engaged in an anger-driven uprising against the establishment.

There’s plenty to be angry about.

There’s plenty to be angry about.

Photographer: Daniel Grizelj/Stone RF/Getty Images

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The saga of GameStop Corp. continues. By the end of another frenetic day of trading Tuesday, the stock had just topped its high from Monday. Between those peaks, it staged a fall of more than 50% on Monday afternoon. Colleagues have followed these extraordinary developments as they happened. I will try for now simply to process the single most important question: Is this just a weird technical situation, of the kind that comes along every few years, that can otherwise be safely ignored? Or does it tell us something important about market conditions as a whole?