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Five years after the GameStop saga, the most enduring legacy of the so-called "dumb money" era is a structural shift in how markets function. Retail investors did not overthrow Wall Street like they had hoped but they also didn't vanish completely. Instead, retail became a permanent and influential participant in modern markets. CNBC's Kate Rooney walks through how small investors have forced platforms, institutional investors and regulators to adapt in ways that continue to shape volatility, risk and investor behavior today.
Chapters:
0:00 Introduction
00:47 Chapter 1: GameStop mania
01:25 Chapter 2: The rise of retail investors
04:45 Chapter 3: A new Wall Street
Produced by: Macklin Fishman, Charlotte Morabito
Reporting by: Kate Rooney, Yun Li, Alex Harring
Additional editing: Darren Geeter
Animation: Emily Park, Jason Reginato
Senior Director of Video: Lindsey Jacobson
Additional Footage: Getty Images
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