Gamestop Stocks Surge Again, Reddit WallStreetBets Continues Meme Stock Mania
Last week, Wall Street hedge funds that bet against small publicly-traded companies, such as GameStop and AMC Theatres, faced another defeat as Reddit’s WallStreetBets meme stock frenzy pushed GameStop shares (NYSE:GME) to a 100% return in less than a week. The stocks rose from under $25 to almost $50, just shy of the resistance level. Investors and day traders who sold on June 6th were able to realize their profits.
This rally serves as a reminder of the sacrifices made by previous generations, who were unable to participate in trading meme stocks like GameStop and other popular cryptocurrencies such as Pepe Coins and Kai Cat Coins (a new Ethereum meme token available in pre-sale).
The significance of June 6th, 1944, the date of the Normandy landings in France during World War II, adds a patriotic and conservative element to the meme traders’ actions. It symbolizes their desire to challenge Wall Street hedge funds, which shorted small businesses like the independent video game retailer from Texas, GameStop.
Traditionally, the advice of a wise and contrarian investor was to invest in businesses that generate income even when the investor is not actively involved. However, modern investors are now being advised to put their money into video game meme stocks and cryptocurrencies like Bitcoin. This shift in investment strategies has caught many hedge fund managers off guard.
Interestingly, a significant portion of Wall Street hedge fund managers are now showing interest in Bitcoin and cryptocurrencies, indicating a growing trend. This surge in interest, along with the widespread discussions about blockchain technology and Bitcoin’s potential future, suggests that there is a need for more contrarian advice that can prove to be wise.
Robert Kiyosaki, the author of the bestselling book “Rich Dad, Poor Dad,” has stated that saving Bitcoin is the easiest way for anyone to become a millionaire. He believes that Bitcoin does the hard work of generating wealth, while becoming a successful entrepreneur requires intelligence, dedication, and luck.
However, those who missed the opportunity to invest in Bitcoin and Ethereum during the earlier cycles may wonder if there is still a way to follow Kiyosaki’s advice. One possible solution could be to invest in promising meme tokens like Kai Cat. This token, inspired by an old country fisherman who enjoyed his retirement by fishing in the river, is now available on the Ethereum network in a pre-sale with a limited-time guaranteed low price.
Investors should be aware that investing in Kai Cat tokens carries some risk, as stated in the disclaimer. Wallet users are responsible for their funds and should exercise caution.
In conclusion, the recent surge in GameStop stocks driven by meme stock mania highlights the ongoing battle between Reddit’s WallStreetBets community and Wall Street hedge funds. The interest in cryptocurrencies, particularly Bitcoin, among hedge fund managers suggests a need for alternative investment strategies. Exploring meme tokens like Kai Cat could provide an opportunity for latecomers to the crypto market to potentially generate wealth. However, investors should always exercise caution and understand the risks involved.