Stock Market

After a slow and steady climb from $50 three weeks ago, GameStop stock soared close to $350 a share today and then dropped to $200 within minutes. What the hell happened? Gamma squeeze? Market manipulation? Short sellers? Retail investors switching to Roblox? We're all completely flabbergasted but one thing is certain: we wish we'd bought some shares when it was at $45. Hindsight sure is cruel. Though many are full of FOMO and regret, the diamond hands are rejoicing today as their heavy bags quickly become gains once again. Where will GameStop go? To the moon or to its grave? Whatever the hell is happening, it sure is exciting to watch this wild ride. We've collected a bunch of Twitter reactions to the meme stock chaos today. 

It appears that memes are taking over the economy. If you've been keeping up with the GameStop saga and the rise of DOGE, by now you're probably well aware that bitcoin reached its all-time high of $48k early this morning. While bitcoin has been powering through its ascent for over a decade now and is certainly no meme stock, we can't deny that this forceful crypto rally may at least be loosely connected to the recent Reddit short squeeze meme schemes. Elon Musk has not-so-subtly been hyping both dogecoin and bitcoin for months—mysteriously putting 'bitcoin' into his Twitter bio, retweeting ridiculous pro-dogecoin memes, claiming that dogecoin is 'the people's crypto'—even Snoop Dogg (aka Snoop Doge) got in on the hype. But it all came to a head when Tesla announced its purchase of $1.5 billion worth of bitcoin on Monday. It didn't take long for the price of bitcoin to skyrocket to the moon. 

But how much further can bitcoin go? As more and more institutions adopt bitcoin as a legitimate form of currency, the plebs are wanting in, but many are wondering if they're too late. In retrospect, one could say there was never a bad time to buy bitcoin. Remember when one coin cost $9k a year ago? To be honest, I personally thought I was too late then. Now look at me. But obviously hindsight is clear as day, and the future of bitcoin is still foggy for those of us who need blockchain technology to be fully demystified before we can 'YOLO' our life-savings into cryptocurrency. If there's one thing we do know for sure, it's that the inherently viral nature of memes has shown to be a useful tool in pumping crypto. Just as r/WallStreetBets rallied to pump the GME short squeeze, subreddits like r/SatoshiStreetBets have been hyping altcoins like DOGE in order to raise the price floor. Some brush off dogecoin as a bubble or pyramid scheme that only functions as a pump and dump rather than a viable currency, but skeptics said the same thing about bitcoin in 2009, so who knows?

We can't say what the future holds for bitcoin, but we can offer what we know best—memes. We've got some amusing bitcoin memes and tweets both old and fresh for anyone who's either curious about crpyto for the first time or obsessive about checking those candlesticks every two minutes. 

Happy weekend, friends and frenemies. It was quite a week. Stock market drama. The usual political insanity. Elon Musk still has a Twitter account. To help you cope with-  or even just wind down from the madness, we've put together a lovely assortment of memes with the healing power of humor. They won't fix the world's problems, or your problems, but they are capable of improving you mood for a little while. And that has got to count for something.

After an insane couple internet weeks of chatter about meme stocks overwhelming social media, memes about the phenomenon are still surging, one of which is a trending Twitter meme that cleverly brings together seemingly disparate but equally fanatical interest groups—stock traders and astrologers. There are limitless examples of odd couples in fiction and the real world that totally work with the caption 'stock market BF & astrology GF.' We've put together our favorite memes from the Twitter trend. 

It seems like everyone and their mom is suddenly interested in the stock market. We're officially on week two of the Reddit/GameStop and AMC stonks saga, and mentions of the movement have only increased in the media. On Twitter, many users have been taking advantage of the ability to buy fractional shares to feel like they're in on the trend. And it turns out investing makes everyone feel a little more rich and a lot more savvy than they actually are. These delusions of grandeur are being documented with "Me After Investing" copypasta memes, which often use images from Wolf of Wall Street to indicate the feeling of being a high powered stock broker. While the memes may seem repetitive in their self-deprecation and tongue-in-cheek nature, we're loving the unity that investing has inspired in the internet. 

If you've caught wind of the fact that not only GameStop, but now Dogecoin has gone totally viral, you may be asking yourself: is this a joke? The answer is yes and no. Dogecoin may have started out as a funny experiment, but some made thousands of dollars last night as the meme crypto exploded after going viral. Elon Musk even tweeted about it, which usually does wonders to increase the interest in a stock or crypto currency. The last time Dogecoin saw sudden growth was in 2018, but the surge didn't even compare to what we saw yesterday. Even now, the price of Dogecoin is much higher than it has been in the last several years. Will Doge fly to the moon? Only time (and memes) will tell. 

We've got 25 of the thousands of tweets about Dogecoin. The power of memes is undeniable.

If you've been on the internet or turned on the news at all over the past few days, we're pretty sure that you've heard about the movement of Reddit retail investors (r/wallstreetbets) that's been f*cking up the hedge fund game. Well, it seems investment apps such as Robinhood, Webull and E-Trade want this fun to be over. The apps have decided to ban the trading of hot, shorted stocks such as Gamestop, AMC, and Blackberry - a move that's been incredibly controversial, and feels, to retail investors, like a huge betrayal. It's a betrayal that's already inspired class action lawsuits and criticism from politicians on both sides of the aisle. Despite the hubbub and anxiety, memes about this important moment in history are still flying around Reddit. Hopefully things will start looking up for the retail investors and brokerages stop treating bailed-out hedge funds with kid gloves that they do not deserve.

As you've probably heard, a huge upset in the stock market is currently underway as unrelenting redditors, memelords, millennials, and investors continue to buy GameStop shares, driving up the price of its stock as a result. Why? Well, it all started with r/wallstreetbets—a forum for discussion about risky trading strategies. Some redditors (including the founder of the sub) noticed that GameStop was one of the most shorted stocks in the market and took the opportunity to skyrocket the stock by buying up a shitload of shares. Many other Robinhood users followed suit, YOLOing their life savings into GME and causing a crisis for the short sellers betting against it.

The battle between Melvin Capital and the r/wallstreetbets army is still raging hard as individual investors are not only refusing to sell, but more and more are buying in. They won't stop until meme stocks blast off to the moon. We've collected some of the best posts and zingers from Reddit and Twitter about the r/wallstreetbets saga. 

Are you a total freak who actually enjoys the incessant political commentary stemming from the coronavirus disaster? Well, you're in luck! We've trawled Twitter and Reddit for these politically charged tidbits. So you don't have to. Just try to keep your blood pressure in check while scrolling. Gotta take care of that immune system.

While you were dusting off your top hat and cleaning your monocle for the start of this Monday morning, you may have noticed something was off with the stock market.

For starters, the economy tanked hard, dropping 1,000 points in seconds after opening.

That's real bad.

Also, One Direction split up.