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Presented by the Rock Center for Corporate Governance and the Stanford Law Review
An army of Reddit traders has led a crusade against institutional investors. They elevated GameStop (NYSE: GME), a stock worth $18 at the beginning of January, to Everest-level heights of $483 per share. This bottom-up revolution caused hedge funds to lose nearly $20 billion, and investing platforms like Robinhood quickly limited GameStop trading to rein in the Redditors and reduce volatility. Although the GameStop saga seems to be winding down, many Redditors vow to “hold the line” and keep buying GameStop, hoping to squeeze more money out of hedge funds. The standoff between retail investors and Wall Street continues, for now.
The Rock Center and the Stanford Law Review invite you to join Joseph Grundfest, former SEC Commissioner and Senior Faculty, Rock Center for Corporate Governance at Stanford University, Darrell Duffie, Adams Distinguished Professor of Management and Professor of Finance at Stanford’s Graduate School of Business, and Anthony Kayruz, former NBC journalist and Multimedia Editor of the Stanford Law Review, as they break down the legal and economic implications of the GameStop spectacle.