Robert F. Kennedy Jr.: Supporting Retail Investors Through Buying GameStop Shares
Date: 2024-05-22 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
US presidential candidate Robert F. Kennedy Jr. made a landmark move to support retail investors by purchasing $24,000 worth of GameStop shares, a move that has generated significant interest and discussion in financial circles.
Motives and Goals
According to Kennedy Jr., buying GameStop shares is his response to the aggressive actions of large financial market players who manipulate stock prices through short positions. He argues that the market needs greater regulation and transparency to protect the interests of retail investors.
GameStop Stock History
The GameStop controversy began in November 2020 when financial analyst Keith Gill (Roaring Kitty) discovered hedge fund Melvin Capital's significant short position in shares of the GameStop (GME) chain. In response, Gill called on the Reddit community to save the company, which led to a sharp rise in shares by 700% and significant losses for large investment companies.
Retail Investor Support
Kennedy Jr. actively supported the movement of retail investors, declaring the need for reforms on Wall Street. He promised that if he wins the election, his administration will implement tough reforms to create a fair and transparent market.
Kennedy Jr. Quote
“We need a free and fair market. Let's punish the predatory shorts and take them all the way to the moon. By the way, I’m in the same harness with you and I’m not going to leave,” the politician wrote.
Mem-Shares and Memcoins
The movement around GameStop stock led to the coining of the term “meme stocks,” securities that gained popularity on online forums. This phenomenon also spurred the creation of memecoins, cryptocurrencies based on memes.
The Return of Keith Gill
Recently, Keith Gill, who has been silent on social networks for a long time, published a post that caused a stir among the crypto community. Following its publication, GameStop shares rose more than 50%. This has also led to the rise in popularity of some memecoins, including the GameStop token (GME), which is not associated with the company.
The actions of Robert F. Kennedy Jr. and his support of retail investors highlight the importance of a fair and transparent market. His plans include reforming the US financial system if he wins the election, which could significantly change the landscape of Wall Street and strengthen the position of retail investors.
