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In a modern-day battle of David and Goliath on Wall Street, thousands of amateur retail investors banded together to bid up stocks in a handful of failing companies, most notably the nostalgic video game hub known as GameStop. Within days, the renegade traders sent stocks soaring and dealt heavy blows to hedge funds and other traditional professional investors who had bet against the companies. The “meme stock” phenomenon was born. But where does “revolution” stand a year later? Did the amateurs—trading mostly on the Robinhood platform—change the world of finance? Should more “ordinary” investors get into the game? Or will that benefit Wall Street at the little guy’s expense?
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