Meme Stocks, SPACs Rebound: ‘Reddit Raiders Are at It Again’
- GameStop, AMC likely driven by retail traders, says Wedbush
- Rally may portend more pain for shorts in speculative shares
Photographer: Amir Hamja/Bloomberg
This article is for subscribers only.
Investors are rediscovering their appetite for the market’s speculative fringes.
The shares of GameStop Corp. and AMC Entertainment Holdings Inc. -- the poster-children of this year’s Reddit boom -- are surging. Interest in special purpose acquisition companies has reignited with Chamath Palihapitiya’s blank-check firms leading the way. And Bitcoin and Ether are up after last week’s bonfire in cryptocurrencies.