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Brace yourself for punters driving up stocks

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Experts say raw speculation by punters will produce negative impact on the stock market in the long term

Three years since speculative fever engulfed the US investment landscape, thrill-seeking is back in vogue – even before Jerome Powell & Co take their foot off the monetary brake.

Bitcoin’s resurrection above US$60,000 is once again front-page news as meme coins rally anew. Gambling spirits go way beyond crypto, though. Demand for bullish stock options, another mainstay of the 2021 investing era, is booming. Pandemic superstars like Carvana and Beyond Meat have surged – burning bears along the way.

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