But amid the memes, trading app dramas, and discussions of the sanctity of the stock market, there was a surprising result: GameStop's stock price not only rose, but the company listened to its many new retail investors and aggressively accelerated its strategy to focus on e-commerce.
More than a one-off market failure, the investments made by r / WallStreetBets users resulted in the true transformation of a company that many on Wall Street had predicted would disappear.
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You'd think the Wall Street guys and their fan club in Congress would be hailing this as a rare triumph of market evangelism. But the wrong people made money from this event, so the GameStop episode was a dangerous fluke in their eyes.
The stock market remains in the hands of self-serving and corrupt institutions. But just because the traditional market is rigged with rules that change according to the mood of the elites does not mean that ordinary retail investors should relinquish all shareholding control and abandon stock trading entirely.
Instead, a hybrid model that incorporates cryptocurrency and brings the tokenized shares of companies to a blockchain ledger so that people can buy, sell and trade, can help build a better, more transparent and accessible stock market for everybody.
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