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Is it 2021 all over again? Meme stocks are back — and it’s not just GameStop.
The Solactive Roundhill Meme Stock Index, which tracks 25 popular meme stocks including AMC, GameStop, BlackBerry and a slew of newer names, has climbed more than 13% over the past week and nearly 23% over the past three months. (Meme stocks are stocks that tend to gain a huge following on social media, which often pushes up their prices.) The S&P 500 index, on the other hand, has climbed about 2.5% and 9% over the same periods, respectively.
Some individual stocks have seen even bigger gains: Shares of used car marketplace Carvana are up 38% this week, while shares of bitcoin miner Riot Platforms are up 31%.
Why do meme stocks surge?
