The CNBC Documentary 'Making of the Meme King' is available on Peacock or streaming on CNBC.com.
Chairman Ryan Cohen is often hailed as a hero, memorialized in face-swap memes or placed at the center of "tinfoil hat" theories.
"This was a movement," said Brandon, who used to be a self-proclaimed "ape," a term Reddit users prescribe to stock traders on the site who stick together. "It wasn't just a bunch of people trying to get rich." Cohen "came across that he was on the side of retail investors," said Arfan, a Reddit user who invested in GameStop at the time.
GameStop shares soared 1,625% in January 2021, including a 400% gain in one week. Traders on Reddit teamed up to push the stock higher and squeeze the short sellers, who were betting on a drop in the stock. A source close to Cohen said he avoids touting his holdings or giving investment advice and is "just being himself on Twitter."
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