Truths and Falsehoods
The Twitter account of an upcoming documentary, “Apes Together Strong,” which aims to chronicle the rise of “apes”—a self-affirming term adopted by some retail investors who see themselves as challenging corrupt traditional financial systems related to the popular Bored Ape NFT series—wrote that the term “memestocks” was meant to call attention to the “subversive side” of organized efforts to short-squeeze stocks like GameStop and AMC, accusing the SEC and others of co-opting the term in tow to “belittle not only retail investors but the companies they deem worthy of investment.” The two brothers directing the film say they take issue with the government and mainstream financial outlets flippantly applying the label simply to paint investors of a particular company like a “lame caricature of some basement dwelling market manipulator”.
