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Some stocks go up because of the same stocks. Here’s why.
Sarah Tew / CNET
GameStop Stock Still riding the wave of Reddit’s community, WallStreetBets, and, after the market closed on Saturday, currently sits at $ 325 per share. Reddit users battle Wall Street to keep GameStop’s stock price on the rise as Wall Street expected to crash. Small investors use Reddit communities to generate “meme stocks”, causing short selling and short squeeze. And it’s not just GameStop. Other companies, like AMC and Nokia, were also affected by the coordinated surge.
No, that doesn’t mean you have to necessarily give up everything and invest fully in the action of the moment. Some call it market manipulation a “Ponzi scheme” and the share price will likely level out once the heckling dies down.
In fact, the broker TD Ameritrade restricted trading of GameStop and AMC shares Wednesday and continues to post a notice to clients on market volatility. Robinhood trading app followed suit on Thursday in response to rampant growth – the company got into difficulty by limiting stock market transactions and will be under scrutiny by the SEC (they are now limit purchases on AMC and GameStop stocks). The White House said it was monitoring the situation.
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What GameStop’s skyrocketing stock has to do with …
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Part of what is so unusual about the GameStop stock spike is the vocabulary that was used to drive the trading action. Elon Musk, founder of Tesla and SpaceX, helped fuel the activity with a one-word tweet on Tuesday: “Gamestonk. ”
What is a stonk and what does it have to do with trading? Here’s a sample of the jargon behind huge tops, and what the terms mean:
- Stones: An intentional misspelling of the actions. Sometimes Meme Man is used in a meme (see below).
- Diamond needles: When a trader is willing to hold stocks or securities for a long time.
- Rockets: When someone wants a stock price to skyrocket.
- Stay on the line: Hanging on to an action, even if its value decreases.
- “We love the stock”: A meme used for a stock that’s currently in vogue.
Stonks is often associated with Meme Man, pictured.
Know your meme
If you decide to dive into the stock market – and we don’t advise you both ways – here are some best investment advice, and some robo-advisers who can help you. In addition, here is more information about How Reddit and Elon Musk started the GameStop wave. Here is everything you need to know about stock splits and five investment accounts everyone should have. Plus, discover the funniest GameStop Reddit jokes and memes.
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