It sounds like an Onion article.decided to play the market and , a struggling video game retailer, . But this is no Onion article. The plan worked, and things have gotten wild.
Real money is on the line for many people. Still, we're talking about GameStop, the dumpy mall video game store chain thatfor claiming its stores were essential and needed to stay open. So you knew there were going to be jokes and memes surrounding the stock surge, including this fancy new look for the franchise.
Yellen 'monitoring the situation'
Many 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 on Wednesday. "It's a good reminder that the stock market, though, isn't the only measure of health of our economy."
Naturally, 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.)
Piling on Robinhood
People had plenty to say about already filed a class-action lawsuit demanding Robinhood pay damages to affected users and reinstate GameStop on the service.barring users from investing in stocks including GameStop's. It's and other lawmakers from both sides of the aisle. And one user has
Some reactions centered on the perceived irony of the platform's name. "Robin Hood wouldn't like what you've done Robinhood," one Twitter user wrote.
Many admitted that stock market manipulations weren't exactly their superpower, but they were still plenty entertained by the whole 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.