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Meme stocks are having a moment, but the broader market is rallying as well

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S&P 500 Index,Quantumscape Corp,Fisker Inc

While GameStop's 74% rally got a lot of attention Monday, the evidence indicates that a broad rally is dragging up a lot of stocks that have underperformed.

Meme stocks are having a moment, but the broader market is rallying as well. While GameStop's 74% rally got a lot of attention Monday , the evidence indicates that a broad rally is dragging up a lot of stuff that hasn't been performing well this year.

Losers this year, winners this week : Intel, down 30% Tesla, down 31% CVS, down 28% Etsy, down 30% Akamai, down 20% Illumina, down 19% Skyworks, down 16% Nike, down 15% Comcast, down 10% Snowflake, down 20% Other EV-related stocks, all of which have had a terrible year, also had double-digit rallies on Monday, including Plug Power , ChargePoint Holdings , Fisker and QuantumScape .

 

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