In January 2021, the rise of retail investing and the subreddit r/WallStreetBets sparked a broader speculative movement in a few stocks that ended up disrupting trading at brokerages and culminating in a Congressional hearing.
And after a relatively quiet few months, the so-called meme stocks are back in a big way.
The movement's mascot, GameStop (GME), was up over 30% this week. (Analysts from Vanda Research said that this was likely due to institutional involvement rather than a big retail push.) And the new meme stock leader is AMC (AMC), which has taken over the narrative with an enormous 120%+ gain this week.
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