The Brief: "StonkGate" is a nickname for the rise of stock prices including GameStop and AMC by Redditors and other individual investors in January 2021.
DEEP DIVE
A nod to the meme-y word for stock, stonk, and the Watergate scandal, “stonkgate” is a way to refer to the events surrounding the dramatic rise of GameStop and other stock prices. This occurred as individual investors on the subreddit r/WallStreetBets raised the value of certain stocks by buying them en masse, causing hedge funds to lose billions.
https://twitter.com/aaronhuertas/status/1355153781063905281
Actual financial journalists realizing there's a Day 2 of Stonkgate pic.twitter.com/aOBz8ogdX3
— 🇺🇦 David Griner 🇺🇦 (@griner) January 28, 2021