The Atlantic
The Atlantic
As of January 10, nine brokerages had set the one-year target stock price for GameStop at about $10.
But that’s not where it would stay at least for a while. It climbed in price because a subreddit, r/WallStreetBets, engineered a short squeeze.
That kicked off a wild ride, revealing many things not just about how digital technologies are transforming our world, but also about how they are not. It was yet another stark demonstration that technology is not
simply a tool neutral on all possible outcomes, good or bad but something more dynamic, messy and complicated. It’s a complex system where the workings of both the technology and our society, and crucially, how they interact with each other matter greatly.
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