This renewed interest is driven by a resurgence in retail investor enthusiasm, reminiscent of the frenzied trading activity that once sent these stocks to unprecedented heights. The question now is, are meme stocks back?Meme stocks are shares of companies that gain popularity and see dramatic price movements primarily due to social media hype and online forums rather than the company’s underlying financial performance or fundamentals.
“His initial posts years ago on Reddit under the moniker DeepF------Value and subsequent actions catalyzed a historic trading frenzy that shook the foundations of Wall Street, challenged hedge funds, and sparked a reevaluation of trading regulations.” Vezzani believes this could be the catalyst the markets are looking for to break through the inflation and interest rate noise, giving the everyday investor something to rally around.
On Monday, GameStop shares jumped by more than 74%, following that up with a 60% rise on Tuesday. For the year-to-date, it is now up 100%, while over the last month, it has surged 219%. “Until now, the ‘Robinhood’ trader has been conspicuously dormant, with little presence in market bids,” they write. “A modest but persistent rally in meme stocks could very well reactivate this group.”
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