"The regular Joes against Wall Street": that's how one investor interviewed by Reuters described last week's action by amateur traders, which sent shares of U.S. gaming retailor GameStop soaring. The story captured international attention as a generation of gamers battled the big names of finance, and Reuters was quick to find some of the people behind the trading frenzy to bring the story to life.
The interviews set Reuters apart from the competition by going beyond the facts and figures to provide an understanding of the sentiment and strategy behind the trading turmoil. These investors told Reuters how pleased they were to be 'sticking it to the man'; one said "I thought it was really interesting because I saw the common man fighting against Wall Street." In a Reuters analysis of the volatile week, one hedge fund manager overseeing billions in assets called it the most stressful week of his life.
Beyond telling the stories of the novice traders taking on the world's hedge fund giants, Reuters has provided continuous updates of the ongoing saga, including an exclusive on U.S. Treasury Secretary Janet Yellen calling a meeting of top financial regulators to discuss market volatility driven by the trading and an analysis of how the event may provide an early test of the Biden administration's ethics pledges. Additionally, Reuters produced a timeline of how the trading frenzy played out and a factbox of the retail trading frenzy in numbers.
Reuters covers the real world in real time. Get access to the latest developments on the GameStop on Reuters.com and Reuters Connect.
Media Contact:
tumshie.smillie@thomsonreuters.com
[Reuters PR Blog Post]
