The Meme Behind The Curtain
Round 2 for meme-mania likely won't last as long as Round 1 did last year. But this time, you can be better prepared for what to recognize.
If there’s one thing the last week has shown us, it’s that meme stocks - and the associated Reddit raiders that swashbuckle in them - still have some gravitas; at least when it comes to how equities are priced.
This was evidenced in moves of “staple” meme names like GameStop (GME) and AMC Theaters (AMC) over the past 7 days.
Sure, I could write an an entire post about all of the fundamental reasons many of these traders will be proven wrong by buying the stocks at these levels, and why many are going to lose large sums of money, but as my therapist would say, “let’s focus on the present moment” for a little. As I say, let’s focus on why not paying attention to what’s behind the curtain may actually be a strategy worth considering.