Three years ago
It was in the middle of December 2020 when a rather mediocre company suddenly did a 20x within six weeks and made some people very rich. Driven by a mix of social media hyped meme around the company and stay-at-home boredom, GameStop did a rallye Wall Street had seldomly experienced before.
Now we are seeing the hype coming back, ignited by one sudden tweet by one of the main influencers back in 21, RoaringKitty. He kinda posted that he is back for whatever. Literally just a picture with a guy on a chair who is bending forward. The stock did a 3x since then. That was two days ago and he is posting random meme videos since then.
It’s a great story but be careful guys. History doesn’t repeat itself, it rather rhymes. So while the stock is rallying these days, it doesn’t mean we will see another 20x like three years ago. It shows though that memes are a big narrative for investors at the moment. We saw Solana and Ethereum Memecoins explode in the past few months and so are now meme stocks exploding like GameStop.
„What goes up, must come down.“
GameStop lost -75% after reaching its hype-ATH in January 2021 and has not recovered fully since then. That’s not investing but if you are up for some gambling, fingers cross and good luck that it turns out well for you. I won’t participate though.
