Meme Stock Fever Can Cool as Quickly as It Begins
Chris Perrotta's "STONKS" license plate outside his home in Dartmouth, Nova Scotia, Canada.
Photographer: Aaron McKenzie Fraser/BloombergThis article is for subscribers only.
Meme stock mania returned in full force this week, but for some names, the gains are vanishing quickly.
I’m Claire Ballentine filling in for my colleague Charlie Wells this week. I’ve been following meme stocks for a while now, and I remember when this was brand-new back in 2021 (check out the time I spent 11 hours on Reddit for a story).
This time, hordes of everyday investors piled into heavily shorted companies like Kohl’s and Opendoor, along with GoPro, Krispy Kreme and Beyond Meat.