Gamestop Pumps. KAI Cat Coin Follows.
Wall Street hedge funds that short small publicly-traded companies like GameStop and AMC Theatres lost another round of “Meme Stock Dad, Hedge Fund Dad” to Reddit WallStreetBets meme stock mania for GameStop shares (NYSE:GME) last week.
Trading up from under $25 back to nearly $50 again, stopping just short of resistance at that level, GameStop stocks delivered investors and day traders a 100% return in under a week’s time, a realized return for those who sold to scoop some profits on June 6th.
That’s the day the GameStop rally nearly achieved a second record price high on the New York Stock Exchange after years laying dormant following the first meme stock frenzy on Wall Street in 2021.
Which is a good indication that meme traders respect the sacrifices made by soldiers in previous generations that were born too soon to trade dank memes like GameStop stocks, Pepe Coins, and Kai Cat Coins ( a new Ethereum meme token out in presale ).
June 6, 1944 is after all, the date of the landings at Normandy, France, that established a foothold for the Allied powers to recapture Europe from Germany.
So it’s a patriotic and conservative date for the Reddit guys who blew off some steam after Biden won in 2020 to go for the jugular again of Wall Street hedge funds that short some little guy from Texas who sells video games out of a brick and mortar store like in the good old days.
The sage, contrarian advice that turns out to be wise used to be some guy’s rich dad telling him to invest in businesses that produce income while you are away from them as well as when you are working at them. But his poor dad told him to keep wasting his money on higher education at big publicly-funded universities.
Now some rich guy’s nephew told
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