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View in browser January 29, 2021 If you've turned on the news lately (and we hope you have) you've probably seen a story about GameStop's wild week on the stock market. A group of retail investors organized through Reddit kicked off the hubbub buying up shares of the beleaguered company, sending the stock price soaring and angering Wall Street in the process. But if it's been hard for you to follow the story, you're not alone, Hayes Brown writes — and it's not your fault. Wall Street is confusing by design to better give the illusion of huge profits. And it doesn't like revealing how its tricks work.
"There's no reason for the sort of complex securities and shady maneuvering that go on in the stock market except to give the process a patina of magic," Brown writes. "The financial wizards who cast their spells over the market want to keep close hold on their secrets, lest it be revealed that behind the curtain just normal, basic white men are pulling levers."
Read the full analysis at the top of your Friday MSNBC Daily.
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