The Gamestop short squeeze events of last week are largely characterized as “David vs. Goliath” — a take down of Wall Street power brokers by amateur traders. This article by Pam Martens and Russ Martens indicates that the leader of the “amateur trader” group, Keith Gill was a highly trained and licensed financial professional. So who is behind the Gamestop short squeeze? It is also interesting to note that JPMorgan held a long position in Gamestop and appears to have done quite well this past week.
Published by markskidmore
Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times. View more posts