What is an Ape? Understanding the Terminology of the Meme Stock Trading Movement
Apes - originally used as a derogatory dig at fledgling retail stock traders, bored on their lockdown sofas with stimmy funds burning holes in their pajama pockets - became a nom de guerre for the so-called “dumb money” traders, who took the term and ran with it as they poured their passion and their money into GME and AMC shares. They have been battling naked-shorting hedge funds trying to hasten the deaths of their favorite American companies so as to pick at the post-pandemic bankrupt bones. Apes aren’t having that.
“Sticks and stones, man… if we’re Apes, and we beat you at your own crooked game, then what does that make you?” This remains the question until one side or the other relents. It's Apes vs. Hedgies. Besides, apes are fierce and ferocious, while also being quite playful and cuddly. So yeah, we’re taking “Apes” back, thankyouverymuch.
The meme stocks trading movement has developed a language of its own, and it's not just full of boring financial jargon. No, the Ape Army has created a lexicon that's both clever and hilarious. Here are some of the standout terms you need to know if you're joining this motley crew:
Gorillionaire - This one's a mash-up of "gorilla" and "millionaire." Fairly self-explanatory, it means you're rich AF from trading AMC and GME stocks and options, and you probably own a lambo. Or a yacht. Definitely, a yacht.
Hodl – A typo that became a meme. It stands for "Hold On for Dear Life" and means don't sell your shares, no matter how hard the hedge funds try to scare you and shake you off. You hold until the price looks like a phone number.
Apes Together Strong - Because we all know apes are tough, this phrase - popularised by a recent revival of the Planet of the Apes movies - represents the unbreakable bond between retail traders, and the necessity to hold our positions for each other as well as for ourselves. We're not monkeying around.
Rocket to the Moon - AMC's going to the moon, GME's going to Mars! This phrase captures our hope for astronomical gains and our belief that these stock prices will keep soaring.
MOASS – The Mother of All Short Squeezes. It's like Armageddon, but for Wall Street. When it finally happens, you'll hear us all hooting and hollering from outer space.
Checkmate – A buzz word for Ape traders signalling the end of the Short Attack on AMC Theatres stock. A warning from our Silverback CEO.
Silverback – In the ape world, the silverback is the alpha male who leads the troop. In Ape world, it's the most respected and experienced CEO who's not afraid to fight off the naked-shorting Hedgies.
Tendies - It's like the pot of gold at the end of the rainbow, except it's a pile of money that can buy you as many chicken tenders as your heart desires. They taste better in outer space, we’re told.
Diamond Hands - When the going gets tough, the tough grow diamond hands. It means we're not selling, no matter how bumpy the ride gets, until we see the price we want. That's some serious bling.
Smooth Brain – No wrinkles, no worries. If you're a newbie to trading, you’re known as a "smooth brain." But don't fret, you’re always welcome in our troop. Everyone has to start somewhere. "Ape help Ape" is the motto.
Eating Crayons – Apes have learned about the stock market machinations from each other in this process. On Twitter and Reddit, in online forums, those of us who need to ask the stupid questions signal to other Apes that we “eat crayons” to avoid an online onslaught. It usually works.
YOLO - This term was adopted by Apes to describe going all-in on a trade, particularly a stock option that promises to pay off in multitudes if the price reaches or exceeds the target. “You only live once” means you throw it all on black and spin it, then let the chips fall where they may, if you'll pardon the mixed metaphors. Totally not a recommended strategy, and absolutely NOT financial advice.
Yes, the meme stock trading movement may be serious business, but that doesn't mean we can't have a little fun with our language while we wait for life-changing wealth. So grab your bananas, put on your space suit, and join the Ape Nation - we've got a rocket to the moon to catch!