It has been one of the most controversial episodes in the world of finance ever – but what has happened to Gamestop investors here in the UK?
Now the dust has settled, Iona & Simon discuss what’s happened to Gamestop shares in recent weeks and discuss some of the biggest losses – and saddest stories – triggered by the trading frenzy. Iona & Simon also ask whether freetrading platforms in the UK could be sending out better messages to young investors.
“I actually don’t blame young people who have been sold a lie, who do not that experience and education to see through that conversation. I have to say, I do think the media has a lot to answer for here because there was so much coverage of the Gamestop story, for a while, there were reports of all these people making so much money…a young person might look at that and think: “how can I afford not to get in on this? I’d be irresponsible if I didn’t.”
“Freetrade having technical problems [at the height of the Gamestop hysteria] was probably a good thing for those investors on that Friday, but on the Monday when it had halved in value, US stocks opened up again and the founder of Freetrade tweeted that he was buying…Gamestop! I thought that was pretty extraordinary really.”
You can also read more on these issues in Iona’s latest book, Own It! – it’s now available to pre-order.