On January 27, 2021, Mayflower Advisors’ Managing Partner Larry Glazer joined CBS Boston to discuss the Reddit-sourced “strange phenomenon [that] has hit Wall Street”: GameStop’s stock price has risen more than 1,700% since December 2020, with the video-game retailer’s market value gaining over $10 billion between Tuesday and Wednesday alone. Glazer cautions, “It can hurt the hardworking savers at home and the people that really want to see a more rational environment.” Commenting on his own wealth management clients, he adds, “We had a lot of phone calls today from people who were very concerned about what they’re seeing in the markets—because it looks like a casino … They don’t want to see it in their 401(k), and they don’t want to see it in their retirement account.”
