GameStop might have been the most high-profile but it isn’t the only “meme stock” – AMC, Blackberry and Bed Bath & Beyond have all crashed through share price records thanks to the efforts of Redditors. If you’re thinking about trying to ride the wave of a meme stock, there are a few things you should know. First, what actually is a meme stock, anyway? Financial coach Hannah McQueen​ says part of the appeal of meme stocks is that it’s a bit “underground”. Research by Openmarkets Group analysed 12 meme stocks and found that every one dropped in value from the time they became a meme stock – on average by 16 per cent after one month and 34 per cent after three months.

Source: Stuff August 08, 2021 16:41 UTC