Jordan Belfort — aka “The Wolf of Wall Street” — is issuing a stern warning as YOLO fever once again shakes the market via meme stocks … telling GameStop-ers to invest wisely.
Here’s the deal… shares for GameStop and AMC skyrocketed in the past few days as traders jumped on the wild meme stock ride anew … all because of a single X post from the dude who kicked it all off in the first place back in 2021 … Keith Gill, known as Roaring Kitty.
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As TMZ reported, the viral day trader whipped everyone into a frenzy again just by posting memes after silence for years … and while everyone’s excited, JB’s offering up caution.
Belfort tells us the all-or-nothing part of the craze — which is the core of this whole investment movement — is highly contagious … but notes it can be equally as dangerous for the stock market’s uninitiated, which is a vast majority of people participating in this fad.
The Wolf advises normies to treat meme stocks like a trip to Vegas … bring only what you are comfortable losing — because the odds of walking away rich are somewhat stacked against ya.
If you’ve read his book or seen the Leonardo DiCaprio movie, you know Jordan infamously battled stock-shorting hedge fund managers … and made a fortune doing it. So when he says to have fun, but play it safe… trust that he knows what he’s talking about!
Jordan says he doubts the reignited hype will be as huge as it was a few years ago, meaning GameStop isn’t going to be trading for $400 a share like it was at its height the first time around. In fact, shares dropped a whopping 32% Wednesday morning to $33 a share, after shooting up 60% the day prior.
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The Wolf’s point … investors can lose a lot if they don’t have some basic information about meme stocks, which are based on speculation and have nothing to do with the success or failures of the biz, which typically moves a share price meaningfully.
Bottom line … JB says meme stocks are a game and a gamble — and not a wise investment in the traditional sense. With that said … he does seem stoked about GameStop 2.0.
