The antisocial network The GameStop short squeeze and the ragtag group of amateur traders that brought Wall Street to its knees

Ben Mezrich, 1969-

Book - 2021

"Beat-by-beat account of how a loosely affiliate group of private investors and internet trolls on a subreddit called WallStreetBets took down one of the biggest hedge funds on Wall Street"--

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Subjects
Published
New York : Grand Central Publishing 2021.
Edition
First edition
Language
English
Physical Description
ix, 289 pages ; 24 cm
ISBN
9781538707555
1538707551
Main Author
Ben Mezrich, 1969- (author)
Review by Publishers Weekly Reviews

In early 2021, the stock price of a mostly-forgotten video game mall chain was going through the roof, and at first glance, no one could figure out why. Mezrich (Bitcoin Billionaires) brings his characteristic cinematic flair to this breathless account of the "amateur investors, gamers, and Internet trolls" behind the skyrocketing GameStop shares. Mezrich tells the full story, covering the rise of the subreddit WallStreetBets (the titular antisocial network), the Robinhood investing app that enabled the unprecedented short squeeze and turned stocks into "a highly playable video game," the infusion of cash from the financial firm Citadel, and the ensuing congressional hearings. A number of characters come to life, including Wall Street powerhouse Gabe Plotkin, who was "bested by some unseen force," as well as the ordinary people who changed the game—livestreamer Keith Gill, for example, started the focus on GameStop with a post on WallStreetBets. It's this angle, of new investors willing to lose their investments so long as they brought down the wealthy and powerful with them, that formulates the most page-turning part of the tale. Mezrich's is a lively, thrilling, and comprehensive account. Agent: Eric Simonoff, WME. (Sept.) Copyright 2021 Publishers Weekly.

Review by Publisher Summary 1

Mezrich offers a gripping, beat-by-beat account of how a loosely affiliated group of private investors and internet trolls on a subreddit called WallStreetBets took down one of the biggest hedge funds on Wall Street, firing the first shot in a revolutionthat threatens to upend the establishment. The unlikely focus of the battle: GameStop, a flailing brick-and-mortar dinosaur catering to teenagers and outsiders that had somehow held on as the world rapidly moved online. WallStreetBets was a joke, until some members noticed an opportunity in GameStop-- and rode a rocket ship to tens of millions of dollars in earnings overnight. -- adapted from jacket

Review by Publisher Summary 2

"Beat-by-beat account of how a loosely affiliated group of private investors and internet trolls on a subreddit called WallStreetBets took down one of the biggest hedge funds on Wall Street"--

Review by Publisher Summary 3

The New York Times bestselling author of The Accidental Billionaires presents a thrilling account of how a loosely affiliate group of private investors and internet trolls on subreddit called WallStreetBets took down one of the biggest hedge funds on Wall Street. 75,000 first printing.

Review by Publisher Summary 4

Named a Best Book of the Year by New York Post!From one of our most innovative and celebrated authors, the definitive take on the wildest story of the year— the David-vs.-Goliath GameStop short squeeze, a tale of fortunes won and lost overnight that may end up changing Wall Street forever.Bestselling author Ben Mezrich offers a gripping, beat-by-beat account of how a loosely affiliate group of private investors and internet trolls on a subreddit called WallStreetBets took down one of the biggest hedge funds on Wall Street, firing the first shot in a revolution that threatens to upend the establishment.It’s the story of financial titans like Gabe Plotkin of hedge fund Melvin Capital, one of the most respected and staid funds on the Street, billionaires like Elon Musk, Steve Cohen, Mark Cuban, Robinhood co-CEOs Vlad Tenev and Baiju Bhatt, and Ken Griffin of Citadel Securities. Over the course of four incredible days, each in their own way must reckon with a formidable force they barely understand, let alone saw coming: everyday men and women on WallStreetBets like nurse Kim Campbell, college student Jeremy Poe, and the enigmatic Keith “RoaringKitty” Gill, whose unfiltered livestream videos captivated a new generation of stock market enthusiasts.The unlikely focus of the battle: GameStop, a flailing brick-and-mortar dinosaur catering to teenagers and outsiders that had somehow held on as the world rapidly moved online. At first, WallStreetBets was a joke—a meme-filled, freewheeling place to share shoot-the-moon investment tips, laugh about big losses, and post diamond hand emojis. Until some members noticed an opportunity in GameStop—and rode a rocket ship to tens of millions of dollars in earnings overnight.In thrilling, pulse-pounding prose, THE ANTISOCIAL NETWORK offers a fascinating, never-before-seen glimpse at the outsize personalities, dizzying swings, corporate drama, and underestimated American heroes and heroines who captivated the nation during one of the most volatile weeks in financial history. It’s the amazing story of what just happened—and where we go from here.