[Ep. 313] The Gamestop Craze One Year Later with Spencer Jakab

February 2, 2022

This episode of the More Money Podcast is sponsored by oxio. Sick of dealing with the big telecom companies in Canada? Me too! That’s why I’m switching to oxio to get unlimited internet, no contracts, fast and local customer service, plus love how transparent they are with their pricing. To learn more, visit oxio.ca and use promo code MOREMONEY to try out oxio for free for one month.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The times when people think it’s easy to outfox Wall Street are the best times for Wall Street.January 2021 marked the 1-year anniversary of the Gamestop stock going viral, which led to the birth of meme stocks. To help make sense of what happened during that craze and the time since is my guest, Spencer Jakab whose new book “The Revolution That Wasn’t: GameStop, Reddit, and the Fleecing of Small Investors” tells the story of what led to those events and what it says about investing in today’s social media culture.

Spencer Jakab is an author, award-winning financial journalist, and a former top-rated stock analyst at Credit Suisse. He also edits the Wall Street Journal’s “Heard on the Street” segment. 

In today’s episode, Spencer talks about the rise of people turning to social media for investing advice and the danger of confusing investing with speculating or get-rich-quick schemes. Spencer also explains the initial purpose of the takeover of the Gamestop stocks and why it only made the rich richer. I thoroughly enjoyed talking to Spencer and hearing his take on Reddit threads like r/wallstreetbets and financial influencers, and I know you will too!

Things Mentioned in This Episode

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