Robert Kennedy Jr. Invests $24,000 in GameStop to Support Retail Investors

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US Presidential candidate RFK Jr. invested $24,000 in GameStop to show support for retail investors against big institutions. Recently, retail investors caused a brief rally in GameStop, a stock famous for the 2021 meme stock mania. In a similar move, Donald Trump also started accepting crypto donations, aiming to attract similar fringe investors for votes. 

A Bold Investment

Recently, Robert Kennedy revealed on his official X account that he invested $24,000 in GameStop shares, translating to over 1,080 at the current stock price of $22.22. Kennedy’s investment funds come from a lawsuit victory against Monsanto, a company he sued for poisoning the soil and causing cancer. This move underscores his commitment to combating corporate misconduct and supporting retail investors.

Kennedy acknowledged the problems of regular investors and pledged to tackle market manipulation if elected president. He condemned market manipulation as a crime and supported retail investor resistance. He wants to show his support for free markets by investing in GameStop.

On the top, Kennedy’s investment in GameStop using Monsanto lawsuit proceeds is symbolic. He liked that Monsanto implicitly supported ordinary investors to punish unscrupulous short-selling. Many retail investors understood his message: “I ride with you and I’m not leaving.”

Crypto Implication

Kennedy’s interest and potential approval of a spot Ethereum ETF by the US SEC, has boosted the broader crypto market. Known for his bullish views on Bitcoin, Kennedy has also shown interest in intervening in issues like the US’s ByteDance – TikTok – ban, further solidifying his position as an advocate for the people.

Skepticism in the Market

Despite Kennedy’s full-blown support, some market observers are doubting this meme hype of GameStop. Vanguard CIO Greg Davis has cautioned investors, noting that the company’s fundamentals have stayed the same and warning that early investors often ended up worse off. While Kennedy’s support brings attention and excitement, the future of GameStop’s stock remains uncertain.

In conclusion, Robert F. Kennedy’s investment in GameStop is surely a powerful move. Considering his popularity in the US presidential elections, this will be an epic moment for the entire crypto market, which is struggling with an unregulated market structure.