Nir Kaissar, Columnist

Meme Stocks Aren’t New, But Their Biggest Fans Are

The difference from the Nifty Fifty or dot-com mania is that now anyone with a dollar and a smartphone has the power to move markets.

June 16, 2021 at 10:00 AM UTC

By Nir Kaissar

Nir Kaissar is a Bloomberg Opinion columnist covering markets. He is the founder of Unison Advisors, an asset management firm.

Photographers: Justin Sullivan/Getty Images (GameStop); Jeenah Moon/Bloomberg (AMC)

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Get used to meme stocks because they’re not going away.

The meme stock frenzy that has gripped financial markets this year started in January when shares of video game retailer GameStop Corp. skyrocketed to nearly $350 from around $20 in just two weeks. Other once-sleepy stocks have shot up to varying degrees since then, such as movie chain AMC Entertainment Holdings Inc. and home goods retailer Bed Bath & Beyond Inc.