Trump Fuels Meme-Like Rallies in Stocks Tied to 2024 Bid
- Small stocks seen as linked to ex-president jump on candidacy
- Merchandise site, SPAC, maker of campaign app among gainers
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Donald Trump’s charge toward the Republican presidential nomination is fueling a speculative frenzy in a corner of the US equity market, setting off rallies in obscure stocks seen as tied to his candidacy.
The gains have echoes of the pandemic’s meme-stock mania, when legions of day traders piled into a handful of money-losing companies, seeking to pocket quick gains when their share prices surged.