Meme stocks are the epitome of the unpredictable chaos that spilled over into so many areas of life against the backdrop of the COVID crisis. Wall Street was shaken up by a subreddit, WallStreetBets, with the community’s actions resulting in the GameStop short squeeze. This caused the stock to soar by over 15x and led to massive losses for hedge funds and short sellers. To delve deeper into the origins of the social-media-driven stock market hype, we decided to explore the communities behind the meme stock phenomenon. Graph 1. Google searches for “meme stocks” show that we are at the very beginning of the hype wave.
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GameStop (NYSE:GME)
Historical Stock Chart
From Aug 2021 to Sep 2021 Click Here for more GameStop Charts.
GameStop (NYSE:GME)
Historical Stock Chart
From Sep 2020 to Sep 2021 Click Here for more GameStop Charts.