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The Hustle Daily Show
Meme stocks are back
May 15, 2024
Explore the resurgence of meme stocks driven by Roaring Kitty, leading to surges in GameStop and AMC. Plus, dive into Comcast's streaming bundle and shifts in the diamond industry.
12:20
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Quick takeaways
- Roaring Kitty's return sparked a surge in GameStop and AMC stocks, reminiscent of the 2021 frenzy but with less impact.
- Investors anticipate potential stock booms with Roaring Kitty's influence, indicating a continued intrigue in meme stock developments.
Deep dives
The Return of Roaring Kitty Sparks Meme Stock Craze
Roaring Kitty, the YouTube influencer behind the 2021 GameStop stock frenzy, resurfaced on the internet, causing GameStop and AMC stocks to surge. Although the stocks experienced fluctuations, the meme stock sequel saw retail investors nostalgic for the 2021 excitement. However, differences this time include less stimulus money, increased awareness among hedge funds, and a reduced surprise element leading to less impactful gains and losses compared to 2021.
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