Business
No doubt you've read or heard about the insanity around GameStop stock lately. The popular brick-and-mortar video game chain saw stock prices skyrocket, driven largely by day traders on Reddit and Robin Hood.Today, Keith Mooney of Mooney Lyons joins Jon Gay to walk through this entire phenomenon and clear up any misconceptions around it. We explain some of the terms (short sale, short squeeze, and more). Keith speaks to how the stock was devalued, then driven up in value, then had the Robin Hood app step in. Turns out this is much more than a David vs Goliath battle between day traders and Wall Street. Yes, hedge funds lost billions. But if individual investors are careless during a craze, they will lose too.Finally, Keith looks at the long term implications of the GameStop craze - what do regulators have to evaluate when thinking about what changes, if any, they want to make.For more information on this trend, or to look at a plan for your individual future, reach out to Mooney Lyons at https://mooneylyons.com/Securities offered through Triad Advisors, LLC. Member FINRA/SIPC. Advisory Services offered through Triad Hybrid Solutions LLC, a registered investment advisor. Mooney Lyons Financial Advisors and Triad Advisors, LLC are not affiliated.