7 Defining Moments of Market Volatility During the Pandemic

5. The GameStop Saga

In January 2021, the stock market was thrown into chaos by the GameStop saga, where retail investors on Reddit banded together to drive up the price of GameStop stock. This caused major losses for hedge funds that had bet against the company. The event demonstrated the rising influence of retail investors and the disruptive potential of social media in reshaping traditional market dynamics.