The Hooks & Runs co-hosts are fascinated by the whole GameStop phenomenon that has dominated both Wall Street and the general news cycle in recent weeks. We talked about this in Episode 48, but wanted to go into greater detail with more news and developments. Hence, this special episode.
First, neither Eric nor Craig are investment experts so do not rely on them for expert advice regarding the investment, legal or psychological issues raised by the GameStop phenomenon. Second, neither Eric nor Craig held any GameStop stock when either this episode or episode 48 was released and neither has any intent to open a position in the stock.
This special episode revisits the prisoner's dilemma, examines what influence retail investors may have had on the stock and considers the impact partial trading suspension had on price and market behavior. Congress holds its first hearings on the subject February 18th, we will be watching closely.
Errata. The day GameStop hit its peak volume of over 196M shares traded was January 22nd. The day the stock price fell from 482 to 112.25 in an 81 minute span was January 28th.