The antisocial network : the GameStop, Short Squeeze and the Ragtag Group of investors that brought Wall Street to its knees

Mezrich, Ben, 1969-2021

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Summary

THE ANTISOCIAL NETWORK is the wild, true story of the subreddit WallStreetBets, a loosely affiliated group of private investors and internet trolls who took down one of the biggest hedge funds on Wall Street, and in so doing, fired the first shot in a revolution that threatens to upend the financial establishment. Bestselling author Ben Mezrich offers a gripping, beat-by-beat account of the private investors and internet trolls who took down one of the biggest Wall Street hedge funds, and in so doing, fired the first shot in a revolution that threatens to upend the financial establishment. Told with deep access, from multiple angles, THE ANTISOCIAL NETWORK examines the culmination of a populist movement that began with the intersection of social media and the growth of new, democratizing financial portals-represented by the biggest upstart in the business, RobinHood, and its millions of mostly millennial devotees. The unlikely focus of the battle: GameStop, a flailing brick and mortar dinosaur catering to teenagers and outsiders, that had somehow held on as the world rapidly moved online. The drama comes to a head in a wild battle between Melvin Capital, a 13-billion-dollar hedge fund, and a disparate group of amateur day traders, video game nuts, and internet trolls who coalesced on a subreddit calling itself WallStreetBets. At first, the subreddit was a joke-a meme-filled, freewheeling place to share shoot-the-moon investment tips, laugh about big losses, and post diamond hand emojis. Until some members noticed an opportunity-and rode a rocket ship to tens of millions of dollars in earnings overnight...