Bloomberg and the GameStop saga: the fear of stock market democracy
(2023) Economy and Society — Vol. 52, n° 3, p. 373-398 (2023)
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- Abstract
- The GameStop saga constituted a large-scale ‘breaching experiment’ by arousing the emotion and indignation of a large part of the financial community. This article mobilizes this event to question the normal way of interpreting stock market movements, through an analysis of the dominant interface: the Bloomberg Terminal. This device shapes financial information through three framing effects: selection, weighting and ranking. This ‘Bloomberg frame’ is quite different from other information sources that emerged during the saga and that allowed some retail investors to understand events from another angle. This first pluralization of the informational bases guiding investors’ decisions finally raises the issue of the democratization of finance, its feasibility and its desirability.
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Citations
Duterme, T. (2023). Bloomberg and the GameStop saga: the fear of stock market democracy. Economy and Society, 52(3), 373-398. https://doi.org/10.1080/03085147.2023.2189819 (Original work published 2023)