When stories drive economies

It was the classic David vs. Goliath story. A bunch of renegade small time retail traders that got together and took on Wall Street’s big boys, giving the short-sellers a bloody nose. As this story broke, more and more traders got in on the action and joined the bandwagon.

A couple of posts on reddit and you got yourself a herd stampeding on the stock market. Reddit’s Wallstreetbets led to wild gyrations, significantly pushing the share value of stocks such as GameStop upwards. It demonstrated the power of individuals coming together in a group. But what’s the glue that binds…