GameStop stock controversy has made CNBC watchable

The Big Lead

The business cable channel has benefitted from interest in the controversy over Reddit, GameStop and Robinhood, producing a slew of viral moments this week. "We find ourselves in one of those times where it's the early innings of something big and no one really knows what shape the game is going to take on," says Kyle Koster. "It's equal parts exhilarating and concerning. But something is happening, both online and on CNBC, which, for now, is the go-to place for televised coverage of all things long and short. How do they shape their coverage? How do they cover the story appropriately while maintaining their relationships inside the Old Guard? How close can they be in the goal of giving equal time to both sides? Is that even a goal? To be clear, this sensation is moving fast. It's almost impossible for a network of that size to be as adaptive as more guerrilla units, essentially assuring that the most useful tool in understanding what's happening is the Internet at-large. Monolithically, the Very Online are trying to tell the story as clearly and concisely as possible. Fractionally, there are places lapping the television product in terms of breadth and depth. But TV is TV, meaning it's the easiest place to get a large audience in real-time. CNBC is likely benefitting from people like myself who have avoided the station for years, desperate to catch live updates and commentary. The channel is having a moment right now. Either good or bad, depending on perspective."