There’s no doubt the current stock market hysteria over GameStop and the like will come to a bloody end. The real question is whether the craziness, fueled by social media sites like Reddit and Discord and stock trading app Robinhood, leads those companies to clamp down on stock debate or trading.
Media post-mortems are sure to blame those companies—which reportedly also include Facebook and Twitter—and call for action. Already the Biden administration said it was monitoring the trading in GameStop. Entry to the WallStreetBets subreddit was restricted on Wednesday, which could be a sign Reddit wanted to limit users involved with the debate. But it’s hard to see the argument in favor of more intervention, absent evidence of illegal market manipulation.