Most “meme” stocks make sense, in the respect that the companies involved would have something to do with the interests of 19 year olds. For example, pot stocks (like ACB) were huge meme stocks before they got destroyed. And, more recently, Gamestop makes sense, because obviously 19 year olds spend their time sleeping, eating, and playing Call of Duty.
But the weirdest one is Bed Bath and Beyond, which is only relevant to these “traders’ since that’s where their moms go to buy throw pillows, scented candles, and dish towels. It has been on a tear lately, almost tripling in price in a matter of days.
As the IV Rank illustrates, this is just about as frisky as the stock gets. I’d like to suggest that BBBY is very close to the point of exhaustion, at which time it’s going to disappointed all the basement-dwellers who are trying to “moon” this thing.
