It sounds like an onion item. Reddit users decided to play the market and Increase GameStop's stock value, a struggling video game retailer, compete against Wall Street short sellers. However, this is not an onion item. The plan worked and things got wild.
Experts | warn it won't lastand from Thursday stocks of GameStop and AMC in the center of the billion dollar drama between Wall Street investors and social media traders had dropped dramatically.
Real money is at stake for many people. That said, we're talking about GameStop, the mall's run-down video game chain made headlines early in the pandemic for the maintenance of its business were essential and had to remain open. So they knew there would be jokes and memes related to the stock surge, including this chic new look for the franchise.
Yellen 'monitors the situation'
Many of the jokes revolved around the fact that President Joe Biden's press secretary said the government, including new Treasury Secretary Janet Yellen, had heard of the news.
"Our team, including Secretary Yellen, is of course monitoring the situation." White House press secretary Jen Psaki said On Wednesday. "It's a good reminder that the stock market isn't the only measure of the health of our economy."
Of course, people had to react to the idea of the president and his team focusing on GameStop.
"We'll let the Americans know when GameStop is discounting a Legend of Zelda chess game in a dented box," said a Twitter user.
Another wrote, "My sources now tell me that Biden is monitoring the GameStop situation and is considering buying a used copy of Crackdown 3 for $ 7."
Sell, sell, sell
There were many other elements of history to make fun of, including GameStop's reputation for paying very little for used video games. Wrote one, "Wow GameStop! I got your stock and it's now over $ 330! GameStop: I'll give you $ 12 for it."
Another wrote, "I'm a GameStop dealer too, but I must be doing something wrong ... I gave them my xBox, my controller and all of my games and all I got was a US $ 15 gift card Dollar."
Me: wow GameStop! I got your share and now it's over $ 330!
GameStop: I'll give you $ 12 for it
- Alexis Guerreros (@NotAlexis) January 27, 2021
I'm also a GameStop dealer, but I must be doing something wrong.
I gave them my Xbox, controller, and all of my games and got only one gift card worth $ 15
- Jamie Wilde @ (@jamiekaywilde) January 27, 2021
(The latter makes more sense if you remember that Area 51 Raid.)
Stack on Robinhood
People had a lot to say about the Robinhood stock trading platform, which prohibited users from investing in stocks including GameStops. It is before the control of Rep. Alexandria Ocasio-Cortez and other lawmakers from both sides of the aisle. A user has already filed a class action lawsuit asking Robinhood to pay damages to the affected users and get GameStop back into service.
Some responses focused on the perceived irony of the platform name. "Robin Hood wouldn't like what you did to Robinhood," wrote one Twitter user.
Stock up
Many admitted that stock market manipulation wasn't exactly their superpower, but they were still amused by the whole situation.
"I have no idea what this GameStop thing is, but I plan to play a lot of video games to find out," wrote a Twitter user.
Another wrote, "OK, explain this GameStop story to me like I'm an idiot: Are you plumbers who go karts against a dinosaur and a princess?"
Like a multi-phase video game, the GameStop saga continues. So stay tuned.