I honestly thought the whole “meme stock” thing was dead and buried, but as the past few days have proved, this is not the case. The desperate desire to gamble and make huge gains overnight is hard to shake for 19-year-old “traders“, and the stars of the past, AMC and GME, are again the stars of today. At least until about 30 hours ago. Both of these stocks, quite predictably, are getting clobbered, and I am highly confident the blood is just going to keep flowing.
What was especially amusing is that there was an enormous Dash for Trash yesterday, as “traders” desperately tried to find the trashiest, most garbage stocks in existence to bid up since AMC and GME were already spoken for. These pieces of monkey poo have their own brief mega-rallies which are unwinding even faster.
The whole thing is insane and is already ending in tears. People never learn. Ever.
