A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. Sure, the entire market did well in January. But many of the Reddit/WallStreetBets darlings of two years ago were particularly strong performers. Shares of movie theater chain AMC\n \n have soared nearly 65% so far in 2023, and AMC\n \n ’s companion preferred stock fans have given themselves on social media) has more than doubled.
” Temple worries that investors are once again getting swept up by momentum and aren’t stopping to think about how much risk they are taking on with meme stocks. “There is a little bit of a fear of missing out,” Temple said. “That partly explains the lower quality aspect of this rally.” Consumer comeback? Of course, many companies are actually profitable. And investors will be preparing for another torrent of corporate earnings reports this week.
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