Rise of Retail Army Shrouds Half of U.S. Stock Trading
- More than 50% of volume is done off-exchange on some days
- Some wonder just how reliable prices are in light of that
Photographer: Brent Lewin/Bloomberg
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Working in Jersey City as a broker to institutional investors, Michael Beth could mostly only watch in awe as the Reddit mob turned GameStop Corp. into the hottest stock on Earth.
It wasn’t always so for Beth and traders like him. The pros his brokerage WallachBeth Capital counts as clients have always been stock-market kingmakers, historically putting them in the mix at pivotal moments.