Return of the meme stock? Retail short squeeze targets rally

NEW YORK : More than a year after retail investors, aided by social media, forced an epic squeeze of a handful of heavily shorted stocks, a few of the infamous"meme" stocks were back in the fast lane this week.

While GameStop shares were boosted by Chairman Ryan Cohen's disclosure that his investment company bought 100,000 shares of the video game retailer, the increase extends the 30per cent rally on Tuesday, which had no apparent catalyst. Other companies associated with the trend, also referred to as"stonks" on social media, like Blackberry, Koss Corp and Sundial Growers, were all up between 1.4per cent and 4.2per cent.

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