Defiant amateur investors on Reddit say they are not backing down on their investments in GameStop — and even took out billboards in Times Square and across the country urging the faithful to continue holding the line.
“$GME GO BRRR,” blared a digital ad on the corner of 54th and Broadway in Manhattan. The ad ran for an hour on Friday and was a creation of digital billboard maker Matei Psatta.
The line refers to a popular internet meme that uses “Brrr” to signify the sound a money-printing machine makes. GME is the stock’s ticker symbol on the NY Stock Exchange.
Investors on Reddit have driven the price of GameStop — a dusty mall electronics retailer worth only $2.57 a share at one point last year — to astronomical highs in just days. From a value of just under $40 a share on Jan. 14, the stock skyrocketed to $483 a share. Though price swings have been extremely volatile, the stock has spent much of the last five days comfortably above $300.