Independent U.S. presidential candidate Robert F. Kennedy Jr. made headlines on March 18, 2024, when he announced that he had invested $24,000 in the meme stock GameStop. Kennedy Jr., who is running as a third-party challenger to President Joe Biden and former President Donald Trump, stated that his administration would support the "Ape retail rebellion" and enact aggressive Wall Street reforms.
The term "apes" refers to retail investors who banded together to drive up the prices of GameStop and AMC stocks in 2021 in defiance of bearish Wall Street analysts. Kennedy Jr.'s decision to invest in GameStop was seen as a gesture of solidarity with these retail investors and a way to appeal to anti-establishment meme stock enthusiasts.
Kennedy Jr.'s campaign has been marked by unconventional statements and actions, including a previous denial of owning bitcoin despite evidence to the contrary. His campaign did not immediately respond to requests for confirmation of the GameStop investment.
In response to Kennedy Jr.'s announcement, the Trump campaign revealed that it would now accept cryptocurrency donations, positioning itself as a champion of freedom and opponent of government control. This move suggests that both Kennedy Jr. and Trump are actively courting votes from investors who are skeptical of the traditional financial system.
Overall, Kennedy Jr.'s investment in GameStop and the Trump campaign's embrace of cryptocurrency donations highlight the growing influence of retail investors and alternative financial systems in the political landscape. As the 2024 election approaches, it remains to be seen how these unconventional strategies will impact voter behavior and shape the future of American politics.