Presidential candidate Robert F. Kennedy Jr. said he bought $24,000 in GameStop shares to secure support from the retail trading movement that sparked further meme-stock rallies earlier this month.
Kennedy, who is running as an independent in the 2024 election, expressed solidarity with retail stock traders who call themselves “monkeys” on internet forums in an X post on Tuesday announcing the investment.
“We are well aware of what the average retail investor is saying about the need for greater market transparency, stronger regulatory oversight and tougher penalties for market manipulation and criminal activity.” Kennedy said in the post.
“My administration will support the Ape Retail Rebellion and implement aggressive reform of Wall Street,” Kennedy added.
X’s posts also included a pledge to “punish predatory short sellers to the moon” and a meme image of Kennedy holding up an eagle, with the caption “Apes are stronger united.”
GameStop shares were down about 1% in premarket trading on Wednesday. Shares of AMC, another popular meme stock, were flat.
In a separate announcement on Tuesday, Republican presidential candidate Donald Trump’s campaign said it would accept cryptocurrency donations from supporters.
Despite struggling performance in recent quarters, GameStop and AMC shares surged last week following the sudden return of “Roaring Kitty” Keith Gill, a retail investor who played a central role in the campaign to squeeze institutional investors who had been shorting the companies in 2021.
Gill caused a stir by posting memes and clips from popular TV shows and movies on his X account. This is known to be his first online activity in about three years.
GameStop shares surged as much as 110%, but the gains petered out over the weekend. GameStop shares are still up about 32% year to date at $22.12 a share, while AMC shares are down 24% year to date at $4.65 a share.
