Robinhood invites new players to investing, but its interface doesn’t necessarily help them make money.
When a group of Redditors rallied together to buy up beleaguered GameStop and AMC stocks, they sent each company soaring against all market expectations. AMC in particular was able to wipe away $700 million in debt, rescuing the movie chain from certain bankruptcy. While many of the other gains may be short-lived, there’s no doubt history was made in a meme-fueled collective investment maneuver that will be studied and debated for years to come.