Retail Investors Host Meme Stock Party In Face of High Rates
- Options volume ticks higher as day traders position for gains
- ‘Proper comparison would be the summer of 2021,’ says Deluard
Screens displaying Truth Social stock information outside the Nasdaq MarketSite in New York on Tuesday.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
The retail investing crowd is back in the throes of a meme stock mania as encouraging messaging from the Federal Reserve, GameStop Corp.’s expected earnings and sky-high stock prices ignite a euphoria among day traders.
Individual investors’ piece of options volume has ticked higher as traders buy calls to position for continued rallies in already frothy equity indexes. They snapped up shares of Reddit Inc. after its scorching initial public offering last week while also pumping up old classics, sparking a 15% surge in GameStop shares on Monday and rocketing Bitcoin toward fresh highs.