GameStop
GameStop
The price of GameStop shares almost doubled in a matter of days last week, rekindling some of the excitement seen during the meme stock craze of 2021 that also saw the bitcoin price and other cryptocurrencies whipped up to astronomical heights.
Now, meme stock traders are turning to crypto exchange Coinbase, rallying on the messaging app Telegram.
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Roaring Kitty, AKA Keith Gill, helped the meme stock craze to return last week, boosting the price … [+]
The Covid-era Telegram group WallStretBets, which boasts an active userbase of 41,000 traders, is spamming “Coinbase to the moon” in an attempt to boost the share price of the crypto exchange.
“Who will buy Coinbase with me next week,” one user of the WallStretBets Telegram group asked.
Coinbase has already seen its share price soar this year thanks to the rising price of bitcoin and the debut of a fleet of spot bitcoin exchange-traded funds (ETFs) on Wall Street, most of which Coinbase is acting as custodian for.
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The bitcoin price has surged this year, helping the price of Coinbase stock and the wider crypto … [+]
Last week, Wall Street giant Bank of America upgraded Coinbase to neutral from underperform, raising its price target on the company’s stock to $217 from $110.
Coinbase stock is up 300% from its early 2023 low of $33.
