Big Tech Analyst Explains the Reddit GameStop Phenom with Andrew Blejde

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from Kerry Lutz’s Financial Survival Network

Andrew Blejde, is a software engineer, big tech analyst, and markets observer. The power dynamics are shifting on Wall Street. Individual investors are winning big—at least for now—and relishing it. An eye-popping rally in shares of companies that were once left for dead including GameStop Corp, AMC Entertainment Holdings Inc, and BlackBerry Ltd. has upended the natural order between hedge-fund investors and those trying their hand at trading from their sofas. While the individuals are rejoicing at newfound riches, the pros are reeling from their losses. Long-held strategies such as evaluating company fundamentals have gone out the window in favor of momentum. War has broken out between professionals losing billions and the individual investors jeering at them on social media. Meanwhile, the frenzy of activity is stirring regulatory and legal concerns, as well as the attention of the Biden administration. The White House press secretary said on Wednesday that its economic team, including Treasury Secretary Janet Yellen, is monitoring the situation.

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