If you saw the big bird meme that is trending on Twitter and felt confused, then don’t worry, you are not the only one. The whole story is baffling from start to end. So, stop flapping, and read this explanation.
The first twist in the tale was a sudden surge in the price of GameStop shares, although it had nothing to do with the gaming merchandise that the company sells.
The value of the stock in the beginning of the year 2021 was about $17 to $18. But yesterday (28th January 2021), the value reached $311.99. So what exactly happened here? And how did big bird get in on the act?
The story of the Gamestop price surge
In mid-January, the price of GameStop started rising because of a Reddit group called “WallStreetBets”. This community is full of ideas about the next big trade to jump on and they kept encouraging each other to buy more Gamestop stocks in an effort to put the price higher or, as quoted, “to the moon”.
Next, a one-word tweet by Elon Musk really got the ball rolling.
While the price remained reasonably high, Elon’s tweet on 27th January pushed a lot of people to buy more stocks and, thus, create more chaos.
The act of someone as rich and famous as Elon sharing a sub-reddit thread goaded many people into jumping on the Gamestop hype.
The Big bird GameStop meme explained
The price surge caused not only a lot of Redditers to become much more well-off, but it also resulted in a rich amount of hilarious memes.
The revenue of GameStop has increased so much that it is now no. 464 in the list of top 500 Fortune companies.
And that explains the big bird meme… because not every company should be sat at the table with Amazon and Apple.
The price surge of GameStop also brought back the “stonks” meme.
To cut a long story short, some people gathered together and decided to increase the price of a company, and they succeeded a little bit. More people caught on and spread the word and that resulted in complete chaos in the stock market.
Now everyone on Twitter is marveling at what has happened and making fun of it by creating more and more memes.
Most hilarious reactions on Twitter
This was you before reading this article.
