Meme Stock Mania Alive and Well in Old Robinhood Restricted List
- Average Robinhood restricted stock is up 24% since peak mania
- Since March bottom, only four S&P 500 stocks have fallen
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A lot of sins are forgiven in a bull market. So while viewers of the GameStop Corp. congressional hearing were barraged with tales of newbie day traders getting clobbered for dabbling in the loopiest meme stocks, those wounds are healing fast.
It’s testament to how hard it is to keep anything down nowadays that stocks whose volatility briefly got too hot for Robinhood to handle have emerged a month later as winners. Ten of 50 companies put on the broker’s restricted list have surged more than 50% since the episode peaked, while the average stock caught up in the maelstrom is up 24%.