GameStop and AMC’s skyrocketing stock prices have artists curious (and confused) about the market and defending their right to buy and sell.
Wall Street Bets, a Reddit forum of people who frequently discuss investing and trading, argued the value investment of certain companies’ stocks and subsequently caused their prices to spike, including GameStop and AMC. When short-sellers bet low, the members of r/wallstreetbets bet high — and Wall Street investors suffered economic distress as a result.
Stock trading and investing app Robinhood as well traditional brokerages such as Charles Schwab and TD Ameritrade suspended buying features for GameStop, AMC, Nokia, and more companies Thursday morning (Jan. 28) as a result of the surge, which have angered many like Ja Rule. He joined the social media campaign to “hold the line” until the stock market opens. But many Twitter users were quick to compare his complaints of Robinhood scamming small investors to the 2017 Fyre Festival he attempted to put on with Billy McFarland.
Meanwhile, Grimes had a more poetic take of the stock price controversy, tweeting, “In the vast ocean/ My tear is a drop/ My dollar a single photon/ Of the light of GameStop.”
See what the stars have to say about the stock controversy below.