The world has been watching the past few weeks as GameStop stock caused chaos in the financial market, resulting in incredibly wealthy institutional investors losing billions. What media outlets have described as a modern-day David vs. Goliath story has captivated many, including me. This story of individual traders uniting and working together to take on the wealthy elite who tend to control the markets is a perfect illustration of the power of the masses to make change. Perhaps this story will inspire the many to work together in other contexts as well, such as in the workplace.
What happened with GameStop
First off, I do not claim to be any sort of expert on financial markets, and if you really want to get a thorough understanding of what exactly went down with GameStop there are a lot of good resources out there. That being said, the simple, non-technical version is that some individual traders realized how many hedge funds and other institutional investors were shorting GameStop stock and decided to use it to their advantage by rallying the masses primarily via a Reddit forum.