“GameStop stock surges over 70%—but investors should still be wary of ‘meme stocks’”
May 17, 2024
“And in 2024, it appears that meme stocks are rallying again. On Monday, GameStop’s share price soared by around 70% throughout the day and trading was paused multiple times due to volatility. On top of that, short sellers lost $1 billion due to GameStop’s sudden price rise, according to data from S3 Partner…”
Meme stock rallies are for day traders. A random person trying to catch the wave will most likely fail unless they’re in early. Personally I think if you see a rally is already to late. It’s impossible to predict how long any rally will last.