In January 2021 something very odd started happening with the stock of GameStop, a once-beloved retail store that looked like it was stuck in bricks-and-mortar while its customers had long gone online. It spiked. And it kept spiking. Why? Anyone who offers a definitive answer would be a liar, but one major factor—and rallying point—was investor Keith Gill, known as Roaring Kitty, and the subreddit r/wallstreetbets..
Nevertheless this has essentially acted as the Horn of Rohirrim for all those whose favourite word is"stonks". The mere news of Gill's return to social media after such a pause, made with a teaser meme implying more to come, caused an instant rush and spike in GameStop stock: and, almost as quickly, a ban on trading in it.Shares of GameStop soared over 100% in value on Monday, before eventually closing at just over $30 per share .
That's because, whatever Gill may be up to, meme stocks are a terrible investment for the vast majority of small traders. The meme he initially posted on Twitter shows a man leaning forwards in his chair, usually used in the context of"shit's about to get real", and this was followed over the last 24 hours by a whole assortment of videos that all basically amount to a tease that something is happening.
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