On GameStop, the answer is probably a mix. It’s not clear how many of them are looking at the underlying fundamentals of companies, or whether they’re just “YOLO-ing” themselves across the market. There has been a lot of hand-wringing about the day-trading trend and this new crop of investors playing the markets, many of whom are treating stocks more like a spin at the roulette wheel than a long-term strategy to build wealth. Goliath story, where David - at least on some fronts - appears to be winning.įamed investor and CNBC personality Jim Cramer called the GameStop drama the “ squeeze of a lifetime.” Bloomberg opinion columnist Matt Levine posited that one possible explanation for what happened could be “utter nihilism” on the part of the Reddit crowd, a story “perhaps best told with a series of rocket emojis.” Or maybe one of the WallStreetBets moderators put it best to Wired: “It was a meme stock that really blew up.” An army of traders on the Reddit forum r/WallStreetBets helped drive a meteoric rise in GameStop’s stock price in recent days, forcing halts in trading and causing a major headache for the short sellers betting against it and banking on the stock falling. In the GameStop saga, at least, the answer is yes. Sure, small-time investors trade a lot, sometimes to the annoyance of more traditional institutions, but are they really consequential? And one big question amid the frenzy has been how much the little guys really matter. Sheriff Labat says he hopes to come up with a plan where investigators and the sheriff’s office can meet their respective missions for the constituents they are sworn to serve.Who knew the first big 2021 stock market story would be … GameStop? But here we are.ĭay trading and individual investing have boomed over the past several months, with activity often taking place or being discussed on platforms such as Reddit and Robinhood instead of in more traditional arenas. The ACRB only investigates Atlanta Police and Atlanta Corrections Officers, not deputies at the Fulton County Jail, so no one is suggesting the sheriff is trying to prevent probes into police conduct. “We already have a process in place that we’ve had in place for 15 years. The board decided not to support a joint press release with the sheriff and a proposed memorandum of understanding about this issue. Wednesday night, the ACRB held a special meeting where it addressed what it called “interference by the sheriff” into its investigations. Teens pulled gun on mother, daughter working drive-thru at metro Atlanta Taco Bell, police say.14-year-old Gwinnett County girl takes final exams, then vanishes.2 Georgia universities make list of top 20 public universities in the U.S.Labat says he has to protect the inmates’ constitutional rights, so he says he is now working on a memorandum of understanding that will lay out procedures for interviewing Fulton County inmates with efficiency and accountability. Sheriff Labat says this all started when a Review Board investigator showed up at the Atlanta Detention facility and tried to interview Fulton County inmates housed there without proper notice. As for getting permission from an attorney, “Many of those citizens do not have attorneys who are representing them at that time,” Reid pointed out.
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