After partaking in the recent meme stock craze by pouring millions into GameStop (NYSE: GME) shares, popular British-American social media personality and former professional kickboxer Andrew Tate, also known as Top G, proclaimed there was corruption in the stock market.
Specifically, after joining the meme stock mania revived by investor Keith Gill alias the Roaring Kitty, which focused on frenzied trading of GameStop and AMC Entertainment (NYSE: AMC) shares, Tate expressed this opinion in an X post on June 9.
Indeed, claims such as Tate’s are not an exception, particularly in the light of Wall Street corruption and scandals surrounding the Great Recession, which have led individuals to bet against those shorting specific stocks, with short-sellers including hedge funds and other major investors.
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As a reminder, amid the meme stock hype that started on the social media platform Reddit (NYSE: RDDT) and its effect on the wider market, particularly the short-sellers of stocks like AMC and GME, Tate has earlier claimed to have purchased $6 million in GME stock and, more recently, another $100,000.
Commenting on his actions in the stock market at the time, the influencer underscored the importance of a “warrior spirit,” or making bold decisions to reap high rewards, as well as calling for unity in fighting what he called the “Matrix,” as per a series of his X posts on May 13 and 14.
Meanwhile, Andrew Tate’s GameStop stock bet might not be playing out as planned, considering that its shares dipped from the week’s high of $61.27 to $37.58 in a day and continued to decline, currently trading at $28.22, which indicates a loss of 29.61% across the week, albeit rising 4.18% in pre-market.
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