Business

With bad ‘red flag’ jokes everywhere, most meme-stock traders are only seeing green

Typically, you simply gotta cease hatin’ and have fun the classics.

Retail traders poured into OG meme shares on Wednesday, as GameStop
GME,
+4.69%
,
AMC Leisure
AMC,
+2.96%

and BlackBerry
BB,
+5.03%

all posted positive factors whereas Robinhood
HOOD,
-0.02%

tried to bro-out with the meme-stock crowd however as a substitute posted one thing off a “dad tweet,” infuriating many merchants on social media who’re already distrustful of the zero-commission buying and selling app.

Issues have been primed for AMC on Wednesday morning because the hashtag #AMCSqueeze continued to pattern on Twitter and the theater chain’s meme-friendly CEO Adam Aron waxed poetic on the social-media app about Marvel’s upcoming superhero blockbuster “Eternals.”

Optimism on AMC inventory was additional fueled by hypothesis that hedge funds which might be bare shorting the inventory should cowl within the coming week or two, resulting in a doable acquire of 30% or higher.

That idea spilled over into buying and selling on GameStop and BlackBerry, which each closed up round 5% as retail traders brazenly crowed about each tickers. Mentions of BlackBerry — which additionally introduced some new software program offers Wednesday — popped over 1,000% in response to knowledge from HypeEquity.

Whereas GameStop’s Stans have been a main driver of the day’s transfer, a giant second for the inventory got here in response to Robinhood’s aspiringly cool tweet.

At 1:51 p.m., Robinhood’s Twitter account tried to capitalize on the brand new “pink flag” meme by tweeting “Investing isn’t for everybody,” including the pink flag emojis meant to indicate poisonous opinions.

The tweet didn’t land with a lot of its target market, as many pro-retail voices teed off on Robinhood, mentioning its recent legal controversies and usually mocking the try at solidarity with the Reddit Raiders motion.

Ultimately, the tweet delivered to thoughts a distinct meme:

blank

An identical tweet apparently did land for GameStop, although, which deployed the meme to way more in style impact:

“1v1” is a well-liked phrase amongst avid gamers meant as a problem to do battle. GameStop was buying and selling close to its intraday excessive when the tweet landed.

Nevertheless it wasn’t all sunshine in MemeVille.

Headphone-maker Koss Company
KOSS,
-2.76%

fell again after Tuesday’s manic ultra-late rally to shut down nearly 3% on the day, falling nearly 5% after midday, however nonetheless locking in some positive factors from hypothesis that it’s going to prevail in its patent lawsuit with Apple Inc.
AAPL,
-0.42%
.

One other meme ticker that had a tough day was DatChat Inc.
DATS,
-26.72%
,
which fell nearly 27% on Wednesday. The inventory had soared greater than 100% on social-media hypothesis that the corporate would full a cope with Barstool Sports activities, however whereas many speculated that the deal can be an acquisition, it turned out that DatChat can pay Barstool “a low seven-figure payment” to “launch a multi-channel, nationwide advertising and marketing marketing campaign” throughout Barstool properties.

However like a child scraping an Italian ice, the very best a part of Wednesday for a lot of meme merchants got here on the finish when a sketchy report surfaced on Twitter that the SEC’s present investigation into retail-investor archenemy Citadel was motivated by political animus in the direction of the agency’s founder, Ken Griffin.

We’ll certainly discuss extra about that on Thursday.

https://www.marketwatch.com/story/with-bad-red-flag-jokes-everywhere-most-meme-stock-traders-are-only-seeing-green-11634162905?rss=1&siteid=rss | With dangerous ‘pink flag’ jokes in all places, most meme-stock merchants are solely seeing inexperienced

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