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Matt Levine

GameStonk Rocket Rocket Rocket

Also some more weird rocket stocks, Deutsche Bank, cereal and NBA Top Shots.

Well this is relevant to my interests:

I was going to explain this tweet, but you know what, let’s not. If you read this column regularly you know exactly what is going on here. If not, you picked a terrible day to start, come back tomorrow, we’ll discuss index funds or something, something nice. The other day I wrote that “if you are a smallish company and Elon Musk whispers your name, or a word that sounds a little bit like your name, your stock will double.” GameStop Corp. is a smallish company, or it was a week ago lol, and yesterday Elon Musk tweeted something that sounds a little bit like “GameStop,” so the stock doubled in after-hours trading. The system works. (Also he linked to WallStreetBets, the Reddit forum that has been frenziedly pumping GameStop’s stonk  for the past few weeks.) I am surprised he waited until after the market closed. A younger and more adventurous Elon Musk—the Elon Musk of 2018—would already have announced his plans to take GameStop private. By next week he won’t be able to afford it.