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An army of amateur traders has launched a siege on Wall Street that has shaken up markets and left seasoned hedge funds reeling. GameStop, a games retailer whose shares have been sent flying by gangs of traders co-ordinating moves on Reddit, sits at ground zero of a battle that has shown these have-a-go investors are no longer just a sideshow.
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“There’s a whole group of investors who really don’t care about the inherent value of a company,” he said. “They just care if there’s someone else who will pay a higher price.”
https://www.ft.com/content/56e8b33a-d9b6-4f74-998b-327ef54c4d5a
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