In January 2021 something very odd started happening with the stock of GameStop, a once-beloved retail store that looked like it was stuck in bricks-and-mortar while its customers had long gone online. It spiked. And it kept spiking. Why? Anyone who offers a definitive answer would be a liar, but one major factor—and rallying point—was investor Keith Gill, known as Roaring Kitty, and the subreddit r/wallstreetbets.
They called it a meme stock. It rose and rose, and then it plummeted, and almost unbelievably took down the hedge fund Mervin Capital. Everyone was looking at this open-mouthed, and left wondering just what the hell happened. Don't ask Roaring Kitty either, who ended up mewling to Congress that "even I barely understand these matters."
