Reddit users say GameStop rocket is revenge of the masses

San Francisco (AFP) – For some Reddit users, GameStop’s dizzying rocket ride on Wall Street is a case of the masses rebelling against one-percenters hoarding the world’s wealth. The social media-fueled movement has sent shares in the US video game retail chain soaring from less than $20 weeks ago to a peak of $492 on Thursday, dearly costing hedge funds that bet GameStop stock would tank. GameStop shares ended the formal trading day down some 44 percent as some cashed out. But they lifted off anew after-hours, after Tesla chief Elon Musk seemingly urged individual investors to punish hedge fun…

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HEDGE accordingly