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).
GameStop Meme Rally Honors The Troops
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 investors to invest in video game meme stocks and something basically called dog money— and this guy is a university graduate and big Wall Street hedge fund manager— and he told investors to short those same meme stocks.
Meme Stonk Dad vs. Hedge Fund Dad
The hedge fund dad didn’t even see that coming, but maybe 50% of Wall Street hedge fund types today range from bullish to cautiously interested in Bitcoin and cryptocurrencies. Between those guys and your Uber driver talking excitedly about “blockchain” or Bitcoin in 2024 is a signal that there’s the need again for some more sage, contrarian advice that turns out wise.
The author of the popular New York Times bestseller “Rich Dad, Poor Dad,” Robert Kiyosaki says saving Bitcoin is the easiest way for anyone to become a millionaire. “Making millions as an entrepreneur is hard. I know. You have to be really smart, dedicated, and lucky to become a millionaire starting your own business. I save Bitcoin because Bitcoin does the hard work.”
But he was already investing in it during the 2020 cycle. The 4-year returns for BTC since then diminished greatly over the previous cycle, continuing a pattern from the cycle before that. Is there a way for crypto investors too late to Bitcoin and Ethereum to follow Kiyosaki’s advice?
One way could be to honor great memes like Kai Cat. This old country fisherman is the sort of cat that came back from Europe after the old wars and when he retired, looked forward to nothing more than a good day out on the river catching fish.
His coin is now available on the Ethereum network in pre-sale for a limited time at a guaranteed low, pre-listing price*.
*Kai Cat $KAI Tokens Are Held At Risk.
Wallet Users Are Responsible For Their Funds.
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