![]() ![]() Already some are referring to the r/Wallstreetbets Redditors behind the price surge as the "GME Army," in much the same way that Ripple and Chainlink have their XRP Army and LINK Marines, respectively. Gamestop’s three-letter stock ticker, GME, is already being treated by many users as another cryptocurrency with its own fervent supporters and detractors. GameStop is the new store of value.- Aaron Levie January 26, 2021 “Wen Lambo?” has long been a phrase used to describe when a token or new project in the crypto space is worth enough for bag holders to afford the luxury car.īitcoin is so 2020. In addition, a number of Redditors on the r/Wallstreetbets subreddit - where a large part of the movement to drive GameStop share prices up took place - have written topics imagining that their success with traditional stocks will result in them buying a Lamborghini. HODL.- Internet Historian January 27, 2021 GameStop shares gonna be the new Bitcoin. ![]() Many crypto users describe the widescale adoption of Bitcoin ( BTC) as ultimately having the same result. News outlet Bloomberg Businessweek described GameStop shares as going “to the moon,” while some Twitter users have speculated - perhaps jokingly - that the recent price surge could potentially bring down the entire financial system. The meteoric rise of a seemingly underappreciated financial asset like GameStop stock has led to many on social media comparing investing in the retail store to that of crypto, and the terminology and comparisons are coming along for the ride. Investors not typically associated with crypto have begun to use lingo unique to the space. Yesterday, some brokers including TD Ameritrade restricted trades, while Nasdaq CEO Adena Friedman said that the firm would consider halting trading for similar stocks with “unusual activity.” Purportedly in response to the unprecedented trading action that has been threatening hedge funds like Melvin Capital, Robinhood has suspended the purchase of stocks that Redditors are pumping - such as GameStop, AMC Entertainment and others. Largely fueled by small-time investors pushing back against large hedge funds, the price of the stock has risen more than 1,400% from roughly $20 on Jan. Unless you've been living under a rock, you'll know that average Redditors proved their investing power going up against major Wall Street traders short-selling GameStop stock. Reports are coming in this morning that trading app Robinhood has suspended buying for GameStop stock and others after GME's price surged in a Bitcoin-like parabolic rally. ![]()
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