The Internet Is Having An Absolute Field Day Making GameStonk Memes

Hi, my name is Eric Italiano, and I’m a #GameStonk Meme addict. I don’t know how or why it happened — it just did. I’m HOOKED on them. Can’t get enough. I was up until about 1 a.m. last night cackling like a deranged hyena at GameStonk meme after GameStonk meme. Shit, I personally spent most of my workday yesterday churning them out:

Now, if you haven’t quite caught up on the GameStop Stock phenomenon, the SparkNotes version is as follows: a bunch of day traders on the r/WallStreetBets subreddit noticed that some hedge funds were shorting GameStop, which is essentially betting on their failure. The subreddit then rallied together to beat the hedge funds at their own game by driving up the GameStop price through mass purchases, therefore losing the hedge funds’ BILLIONS (with a B!) OF DOLLARS in the process.

Granted, I’m one of the last people on this website who should be explaining this to you, so I suggest you check out co-worker Connor’s awesome explainer OR just reading through the “for dummies” (like myself) summary that he sent me on Slack:

The best part about this Meme Stock phenomenon is that it’s far from over: just yesterday, White House Press Secretary Jen Psaki provided an official response to GameStop’s surging stock, saying the Biden team is “monitoring the situation”, and this morning, Robinhood and Reddit were the two TOP free apps on the Apple App Store.

Then, of course, there are the memes. The eternal memes. I obviously wasn’t alone in my newfound addiction, as the rest of the internet also had an absolute field day reveling in the destruction of boujee hedge funds:

https://www.instagram.com/p/CKkf1WAFXbg/

Now that their GameStop gamble has not only cashed in, but has turned into a legitimate cultural phenomenon, Reddit daytraders have fixed their sights on $AMC, the struggling movie theater chain. Well I don’t know much about stocks, I do know this: the GameStonk saga is far from over.