Retail investors are jumping back into meme stocks — and other speculative securities — and don’t appear ready to let up.
Aggregate daily inflows into U.S. securities over the past five trading days through Tuesday were in line with the 2021 daily average at around $1.2 billion, “showing no real sign of weakness so far,” wrote Marco Iachini and Giacomo Pierantoni of Vanda Research in a Wednesday note. AMC was down 10% on Wednesday, but remains up by nearly 31% so far this week, after doubling from its March 14 closing low at $13.56 a share. GameStop Corp. GME shares were down 2.9% but remain up around 15% so far this week after snapping a 10-day winning streak on Tuesday, its longest in more than a decade.
“Intuitively, it follows that retail flows could possibly lead to a longer-lasting melt-up in speculative stocks under a strong bull market rather than under the current high-vol/bearish macro backdrop,” they said.
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