It seems that a congressional hearing aimed at partially investigating internet storage is an excellent opportunity to, well, pump up stocks on the internet.
Thursday’s meeting of the House Financial Services Committee on the recent volatility of GameStop shares was a mostly serious issue. Unless you’ve watched the hearing on YouTube, where a fast-paced comments section has given Internet users opportunities to promote their favorite speculative stock, cryptocurrency, or even their favorite slightly radioactive product. In this online community, stopping capitalization is optional, and missile emojis are required.
“DON’T BUY A DOG, IT’S A MEMECOIN. BUY A BITCOIN.” One commenter wrote. “Vaxart for the COVID PILL VACCINE,” said another, referring to the start of biotechnology aimed at developing an oral coronavirus vaccine.
Other commenters were there to remind the community that there are other asset classes besides speculative stocks and cryptocurrencies – you can bet on commodities as well. “URANIUM, URANIUM, URANIUM”, wrote a commentator, although it was not clear if they were up or up.
No matter why the Internet decides to continue bidding en masse, it’s safe to say that not everyone has learned a lesson from the epic rise and fall of GameStop.