The GameStop Frenzy Showed How Desperately We Need A Narrative Finance

In January 2021 GameStop, a brick-and-mortar games vendor, saw its stock rise 1,700 percent. Institutional investors like the hedge fund Melvin Capital had approximately shorted 140 percent of GameStop’s public float, which some retail investors on Reddit took note of. Redditors also believed that the stock was undervalued and in January the situation reached its…