An epic David-and-Goliath stock battle is under way
Retail traders are pouring into individual counters as professionals diversify
MEME mania swept through Wall Street in 2021. Retail investors gathered on social media and coordinated trading strategies to short squeeze high-profile hedge funds.
Their success was more than financial; it was hailed as a David versus Goliath battle, a victory for the underdogs that toppled the almighty.
That was just a skirmish. The conflict between retail and professional investors today has extended well beyond “degen” traders active on Reddit and a few hard-charging hedge funds.
TRENDING NOW
Asia-Pacific aviation: is up really the only way?
Russia’s ‘pivot to Asia’ takes a turn as it prioritises ties with isolated regimes over bigger economies
Why disciplined stewardship matters when managing wealth in uncertain markets
More than 15,000 sign up for national accounting body’s AI programme in two months