It feels like an Onion article. Adetermined to play the market and of GameStop, a struggling online game retailer, taking up Wall Avenue quick sellers within the course of. However that is no Onion article. The plan labored.
Consultants said during a segment Monday., however as of Wednesday, the inventory was nonetheless hitting new highs. “We’re seeing a phenomenon that I’ve by no means seen,” Jim Cramer, a Wall Avenue commentator on CNBC and a former hedge fund supervisor,
Actual cash is on the road for many individuals. However nonetheless, we’re speaking about GameStop, the dumpy mall online game retailer chain thatfor claiming its shops have been important and wanted to remain open. So that you knew there have been going to be jokes and memes surrounding the inventory surge.
Yellen ‘monitoring the situation’
Some jokes circled around the fact that President Joe Biden’s press secretary said the administration, including new Treasury Secretary Janet Yellen, is aware of the news.
“Our team, including Secretary Yellen, is of course monitoring the situation,” White House press secretary Jen Psaki said. “It’s a good reminder that the stock market, though, isn’t the only measure of health of our economy.”
Of course, people had to react to the idea of the president and his team focusing on GameStop.
“We will let the American people know when GameStop discounts a Legend of Zelda chess set in a dented box,” said one Twitter user.
Wrote another, “My sources now telling me Biden is monitoring the GameStop situation and contemplating picking up a used copy of Crackdown 3 for $7.”
Sell, sell, sell
There were plenty of other elements of the story to poke fun at, including GameStop’s reputation for paying very little for used video games. Wrote one, “Wow GameStop! I got your stock and now it’s over $330! GameStop: I’ll give you $12 for it.”
Wrote another, “I’m a GameStop trader too but I must be doing something wrong… I gave them my xBox, controller, and all my games and all I got was a $15 gift card.”
(That last one makes more sense if you remember the.)
And many admitted stock market manipulations weren’t exactly their superpower, but they were still plenty entertained by the situation.
“I have no idea what this GameStop thing is but I plan on playing a lot of video games to find out,” wrote one Twitter user.
Wrote another, “OK, explain this GameStop story to me like I’m an idiot: They’re plumbers who race Go Karts against a dinosaur and a princess?”
Like a video game with multiple stages, the GameStop saga is continuing, so stay tuned.