Reddit's community, WallStreetBets, is still assisting in the rise of , which is currently sitting at $272 per share and even hit an all-time high last week. to keep GameStop's stock prices soaring while Wall Street expected a crash. Small investors are using Reddit communities to drive "meme stocks," causing short sales and short squeezes. And it's not just GameStop. Other companies, like , have also been affected by the coordinated surge.
No, this doesn't mean you should necessarily drop everything and fully invest in the stock of the moment. Some are calling theand the stock price will likely even out once the hullabaloo dies down.
In fact, broker TD Ameritrade monitoring the situation.on Jan. 26 and continues to post an advisory note to clients about market volatility. followed suit on Jan. 27 in response to the runaway growth -- the company and will be closely reviewed by the SEC (It's currently stocks). The White House has said it's
Part of what's so unusual about the GameStop stock spike is the vocabulary that's been used to drive the trading action. Elon Musk, founder of Tesla and SpaceX, helped fuel the activity with a one-word tweet on Jan. 26: "Gamestonk."
What's a stonk, and what does it have to do with trading? Here's a sampling of the lingo behind the enormous highs, and what the terms mean:
- Stonks: An intentional misspelling of stocks. Sometimes features Meme Man when used in a meme (see below).
- Diamond hands: When a trader is prepared to hold onto their stocks or securities for a long time.
- Rockets: When someone wants a stock price to skyrocket.
- Hold the line: Holding on to a stock, even if it goes down in value.
- "We like the stock": A meme used for a currently trending stock.
If you do decide to dive into the stock market -- and we're not advising you in either direction -- here are some, and some . In addition, here's more information about . Here's and . Plus, check out the funniest .