Influencer and founder of clothing brand “Cancel This Clothing Company,” Ian Carroll, has recently gone viral for sharing a video about his insights on investing in GameStop stock, emphasizing the importance of understanding the risks and motivations behind such an investment. In the video he’s seen advising potential investors to consider the highly manipulated nature of the stock market, especially GameStop’s stock, and he also talks about his own motivations for investing in GameStop.
“If you’re thinking of buying GameStop right now or you’ve bought in in the last couple days there’s something really important that you need to know. Like don’t buy any GameStop until you’ve seen this video. You are thinking about buying into the most heavily manipulated stock in probably the history of the stock market.”
Carroll warned against viewing GameStop as a quick money-making scheme and urged viewers not to rely on advice from social media influencers or friends. “You’re not buying into a quick get rich make money scheme. That’s not, that’s not what this is. You should not be taking advice from social media influencers or your friends that tell you like, buy now, it’s going to go to the moon. It’s like, no one knows what’s going to happen because there are lots of very rich people that do not want this to go to the moon.”
He also highlighted the volatility of the stock and the long-term commitment of current investors. “And we have all been holding for three years. It’s just holding through some of the craziest volatility you could imagine. It’s hard to see on this chart, but there were days where it went up by more than 100 and down by more than 100 in the span of hours. And by now, when this is happening, we’re all chilling because we’ve been through everything and we know the plan.”
Carroll clarified his own motivations for investing in GameStop, noting that his initial goal of making money shifted to a stance against market manipulation. “So for example, like why am I in GameStop? I’m not trying to make money like I think on day one when I bought in I was trying to make money and by like Day 10 when I realized what was really going on. I was like Fuck these guys. I’m not selling. But there are a lot of us here that are here to make money. And there are a lot of us that have made a lot of money. And no shade to them. You get yours. Just me personally, I want my shares as a souvenir. And if you ask me, I think we’re just getting warmed up. There’s a lot of market mechanisms like options trading that means that with the price this high, there’s a whole bunch of volatility on the way.”
He concluded by advising potential investors to be aware of the risks and to approach the investment with a long-term perspective. “But like, no one knows what’s gonna happen. I don’t know what’s gonna happen. You don’t know what’s gonna happen. Roaring Kitty doesn’t know what’s gonna, probably doesn’t know what’s gonna happen. Even Ryan Cullen probably doesn’t know what’s gonna happen. So if you’ve got extra money and you want to give a big fuck you to the system and are ready for the long haul, welcome to the party. We’re glad to have you. As long as you’re coming in with your eyes open and your own choices.”
Watch the full video below:
By all means, come join the team. This party is 🔥.
But know what you’re getting into and come with conviction if you’re gonna come party with us 🚀 pic.twitter.com/j8gR165vQa
— Ian Carroll (@Cancelcloco) May 16, 2024