News Formal

The meme stocks are back and that could be a red flag for the stock market, says strategist

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

An index of meme stocks has gained 10% in the last three days and that could spell trouble for stocks, says BTIG's Jonathan Krinsky.

The stock market rally of 2023 has been criticized by more than a few for being concentrated in just a few big tech companies.

He notes that an index of meme... The stock market rally of 2023 has been criticized by more than a few for being concentrated in just a few big tech companies. He notes that an index of meme stocks, notable for their popularity among investors fueled by social media, has gained 10% over the last three days, versus a 1.6% drop by consumer staples as investors back away from perceived safer haven stocks. GameStop GME , AMC Entertainment AMC and now bankrupt Bed Bath & Beyond BBBYQ are some of the biggest meme names of recent years.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Nasdaq futures lead declines as 10-year holds over 4%Follow all the latest U.S. market action for Monday here.
Source: MarketWatch - 🏆 3. / 97 Read more »