Meme stocks, SPACS and biotech are not so hot anymore
2 years, 11 months ago

Meme stocks, SPACS and biotech are not so hot anymore

LA Times  

GameStop Corp. has lost more than one-fifth of its value to start the year. The first two weeks of the year have brought a 17% tumble for a group of stocks that went public via mergers with blank-check firms and a 10% correction for the biotechnology industry. That’s a very different picture from a year ago when investors pushed easy money into the bubble of special purpose acquisition companies or highflying stocks backed by the portfolio of exchange-traded funds in Cathie Wood’s ARK Investment Management. Another casualty of the market’s choppy start to 2022 are meme stocks, the group of companies that saw a parabolic rise this time last year. Although its flagship ARK Innovation ETF rallied 14% at the start of 2021, outperforming a flat Standard & Poor’s 500 index, it has been caught in a vicious downward spiral this year.

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Meme stocks are back as investors buy shares of beaten-down companies such as Yellow and Tupperware
1 year, 4 months ago

Meme stocks are back as investors buy shares of beaten-down companies such as Yellow and Tupperware

Associated Press  

NEW YORK — A new class of meme stocks has sprung up during the stock market’s surprise recent rally, raising concerns about investors’ willingness to take on bigger risks amid a still uncertain economy. Meme stocks are typically weak companies on the verge of failing, but that still manage to garner attention from individual investors willing to take on risky …

Meta's shock share price drop shakes world tech
2 years, 10 months ago

Meta's shock share price drop shakes world tech

The Hindu  

Shares in Facebook owner Meta fell 20% in U.S. premarket trade on Thursday after the social media giant issued a dismal forecast blaming Apple's privacy changes and increased competition. The shock drop, which comes before Amazon earnings later in the day, spilled over to Europe where technology led sectoral fallers with a decline of 2% and soured the mood across …

The Stock Market Is Still Weird From GameStop
54 years, 11 months ago

The Stock Market Is Still Weird From GameStop

Slate  

A few weeks into 2021, the share price of a flagging brick-and-mortar video game chain exploded, creating the wildest stock market story in years. The story has been a lot to digest for anyone who previously thought stock market moves came down to cold, hard business fundamentals, as well as anyone who looked at storefront video game stores and movie …

Bruised but unbowed, meme stock investors are back for more
3 years, 6 months ago

Bruised but unbowed, meme stock investors are back for more

Associated Press  

NEW YORK — After feeling the thrill of victory early this year by singlehandedly causing GameStop’s stock to soar — only to get crushed when it quickly crashed back to earth — armies of smaller-pocketed and novice investors are back for more. “They’ll do surprising things if given the tools,” said Hossein Azari, CEO of cmorq, a company that helps …

AMC and the rise of money-hungry meme stocks
3 years, 6 months ago

AMC and the rise of money-hungry meme stocks

Al Jazeera  

Share sales that target small retail investors are gaining popularity as companies seek to cash in on rallies spurred by Reddit-fuelled day traders. Share sales that target retail traders are reaching new heights of popularity with the rise of money-hungry meme stocks like AMC Entertainment Holdings Inc. AMC slumped as much as 40% on Thursday after announcing plans for another …

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