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.
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.
Interesting perspective on #StonkGate from an Ask Reddit thread. This has a bunch of financial professionals who are on Reddit, but not active on /wsb, weighing in.https://t.co/467lBEBz3F pic.twitter.com/n6d7yst4bt
— Aaron Huertas (@aaronhuertas) January 29, 2021
Actual financial journalists realizing there's a Day 2 of Stonkgate pic.twitter.com/aOBz8ogdX3
— David Griner (@griner) January 28, 2021