Robert F. Kennedy Jr., a third-party challenger in the 2024 presidential election, recently announced that he had invested $24,000 in GameStop, a move intended to show solidarity with retail investors over large institutional funds. Kennedy Jr. expressed his support for the “Ape retail rebellion” and pledged to enact aggressive Wall Street reforms if elected. The term “apes” refers to retail investors who defied Wall Street analysts’ negative predictions about companies like GameStop and AMC, sparking explosive rallies in 2021.
The meme stock phenomenon resurfaced last week when “Roaring Kitty,” a key figure in the GameStop frenzy of 2021, returned to social media after a hiatus. Kennedy Jr. is actively targeting undecided voters with a fringe political brand that may resonate with anti-establishment meme stock investors. However, his campaign has faced scrutiny over conflicting statements about his investment record, including a denial of owning bitcoin despite financial records indicating otherwise. Kennedy Jr.’s campaign has not yet confirmed his GameStop investment.
Coinciding with Kennedy Jr.’s announcement, former President Donald Trump’s campaign revealed that it would now accept cryptocurrency donations, positioning itself as a proponent of individual freedom over government control. This move may be an attempt to attract voters who oppose the traditional financial system. As the 2024 election approaches, both candidates are aiming to engage with unconventional voter demographics, including those involved in meme stock trading.
Kennedy Jr.’s decision to invest in GameStop reflects his campaign’s focus on supporting retail investors and advocating for Wall Street reforms. The “apes” movement emerged as a response to skepticism from Wall Street analysts, with members seeking to challenge the dominance of institutional funds. By aligning himself with this group, Kennedy Jr. is positioning himself as a candidate who stands up for grassroots investors and challenges the status quo in the financial sector.
Trump’s campaign’s acceptance of cryptocurrency donations signals a shift towards embracing emerging technologies and appealing to voters who are dissatisfied with traditional financial institutions. Both Kennedy Jr. and Trump are leveraging unconventional strategies to appeal to a diverse range of voters, including those involved in meme stock trading and cryptocurrency. As the 2024 election unfolds, it remains to be seen how these candidates’ approaches to financial issues will resonate with the electorate and influence the outcome of the race.
