Hope in meme stocks springs eternal, no matter how dismal their performance.
For a fleeting moment this past week, I had imagined that we’d heard the last of the meme stock phenomenon—social-media-fueled speculative frenzies that can cause stocks to double or more literally overnight. GameStop, the original meme stock, dropped this last week to a multiyear low, nearly 90% below its highest price in January 2021, the month when meme stocks first came to widespread attention. The Roundhill MEME ETF MEME, which invests in meme…
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