GameStop, DJT, Bitcoin Show What the Meme Rally Is Really About, and 5 Other Things to Know Today
Stocks such as AMC and GameStop are skyrocketing, completely divorced from news about the companies. Funds such as Citron Research and Melvin Capital lost billions in the last meme-stock frenzy. One of the reasons GameStop and AMC, along with the now-defunct Bed Bath & Beyond, became meme stocks in 2021 was out of nostalgia for their old-fashioned bricks-and-mortar existence in the face of Covid-19 pandemic restrictions.