These Movies and Shows Can Help You Make Sense of Confusing Economic Concepts
At the beginning of 2021, Wall Street erupted in chaos when stocks for ailing video game retailer GameStop skyrocketed in price from $17.25 a share to $158.18 overnight. Short sellers on the online Reddit community WallStreetBets teamed up against hedge funds and focused their attention on buying GameStop shares. The stock prices continued to rise because other sellers were forced to keep buying options. Options, which give investors flexibility regarding the date on or price at which they can buy or sell the stock, became extremely popular among the 2 million members of WallStreetBets.
This short-selling caused large hedge funds to lose billions of dollars while Reddit users made money for themselves, and GameStop became one of the most-traded stocks on the market. But let’s back things up a little, because this process is undeniably complicated for those of us who aren’t too familiar with the stock market. A number of informative and entertaining movies and television shows can help illuminate a variety of financial concepts related to stocks, trading and the economy overall.