Counter-Hegemonic Finance: The Gamestop Short Squeeze

6 Pages Posted: 4 Feb 2021

See all articles by Usman W. Chohan

Usman W. Chohan

UNSW Business School; Centre for Aerospace & Security Studies (CASS); Critical Blockchain Research Initiative (CBRI); International Association of Hyperpolyglots (HYPIA)

Date Written: January 28, 2021

Abstract

The events that surrounded the short squeeze of various downtrodden stocks such as Gamestop (GME) allude to a counter-hegemonic financial effort, with small-scale investors pooling in to sabotage the short-positions of large Wall Street players such as hedge funds. This paper frames these events in terms of public reprisal for the 2008 Global Financial Crisis (GFC) and public contempt for insular financial private interest. The discussion suggests that such people-power initiatives, abetted by powerful elite sympathizers, have a powerful signalling effect on the public in terms of highlighting fundamental vulnerabilities in an extractive financial system.

Keywords: short squeeze, gamestop, reddit, wall street, financial democratization

Suggested Citation

Chohan, Usman W. and Chohan, Usman W., Counter-Hegemonic Finance: The Gamestop Short Squeeze (January 28, 2021). Available at SSRN: https://ssrn.com/abstract=3775127 or http://dx.doi.org/10.2139/ssrn.3775127

Usman W. Chohan (Contact Author)

UNSW Business School ( email )

UNSW Business School
High St
Sydney, NSW 2052
Australia

Centre for Aerospace & Security Studies (CASS) ( email )

Islamabad
Pakistan

Critical Blockchain Research Initiative (CBRI) ( email )

International Association of Hyperpolyglots (HYPIA) ( email )

HYPIA
www.polyglotassociation.org
Montreal, Quebec
Canada

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