In the David and Goliath saga that has been captivating and confusing Wall Street recently, Goliath has fallen. Two Goliaths, actually. A pair of professional investment firms that placed big bets that money-losing video game retailer GameStop’s stock will crash have largely abandoned their positions. The victors: an army of smaller investors who have been rallying online to support GameStop’s stock and beat back the professionals. GameStop is based in the Dallas suburb of Grape Vine. One of the major investors to surrender, Citron Research, acknowledged Wednesday that it unwound the majority of its bet that GameStop stock would fall.
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January 27, 2021 at 09:45PM
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In Wall Street David v. Goliath story, 2 Goliaths fall - KTIV
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