“Meme stocks are rallying again – and that’s bad news for the market” [So they Say]
July 18, 2023
“Meme stocks are back, and that should be a warning sign to investors that this year’s surprising rally might not last…
Roundhill’s MEME ETF – a fund launched in 2021 to track some of the market’s most speculative names – hit a one-year high Thursday and has jumped around 60% year-to-date. The benchmark S&P 500 index is up 17% over the same period.
Meanwhile, much-maligned stocks like Carvana, Marathon Digital, and Riot Platforms have all racked up staggering gains between 500% and 700% in 2023, while other Wall Street Bets favorites like GameStop and AMC Entertainment have also edged higher this year. But the meme-stock resurgence should be raising red flags for even the most bullish of strategists…”
https://finance.yahoo.com/news/meme-stocks-rallying-again-ndash-211758721.html
How dare those peasants buy stocks! It defies what “experts” say! This article is garbage. More people than ever have access to the stock market. They’re not going to buy what you analyst want. Why wouldn’t they buy the stock if it’s making them money?
What is a “Meme stock” anyway? Something that does not deserve to be propped up? Oh you mean like the housing market in 2008? The current commercial real estate market? Mega banks that always mismanage money? All of these things deserve to fail. Oh I see… its a problem when normal people get to decide what fails and what doesn’t. It’s not the government creating zombie companies so that’s a problem. I understand now.
Meme stocks will probably never go away. This is not a fashion trend. It’s directly connected to making money. As long as people can make money with “Meme stocks” they will do it. This is common sense.