‘Meme Stocks’ Are Still A Thing In 2022

You didn’t drink too much this weekend and wake up in 2020 or 2021. It’s August 2022, and the classical meme stocks are still doing their thing. 🗓ïļ

Despite lackluster (or straight-up bad) earnings reports from Bed Bath & Beyond, AMC, Carvana, and Beyond Meat, the stocks are squeezing to the upside. 📈

Below is a chart of their performance over the last ten days since their upward moves began.

While a lot of the mania we saw in past years has died down along with the overall market’s performance, there’s still plenty of craziness happening (as there always is). ðŸĪŠ

How long these moves will last is anyone’s guess, but the message is clear. Anyone that thought retail trading activity and collaboration on social media and other platforms was entirely going away may have to eat their words at this point… ðŸĪ·â€â™‚ïļ

Are you trading any of these stocks or avoiding the madness? Let us know. 💭

More in   Stocks

View All

What Is “Bear Market Territory” Anyway?

Today’s primary focus in the markets was the S&P 500 *almost* entering bear market territory. ðŸŧ

For those who are unfamiliar, Wall Street likes to define a bear market as anything which has fallen more than 20% (on a closing basis) from its former highs.

Read It

The Dog Days of Biotech

Compared to others, today’s slate of earnings were relatively paltry — there were just 85 names in the Stocktwits community which were top of mind. However, several of them were biotech companies. Let’s just say that today was a bad day to be a bio.

Ocugen, Intercept Pharmaceuticals, Athersys, Immunogen, and AIM Immunotech ware just a few of the biotech names that were top of mind in the community today. However, their big “earnings day” was overshadowed by the entire bio sector moving lower. In fact, this story isn’t even about those companies at all (sorry to the bulls from these companies above.)

Read It

Nvidia Pays Fine For Failing to Disclose Crypto Mining Revenue

The crypto industry hates the SEC. Now, Nvidia does too.

The computer hardware giant, which ranks among the most valuable companies in the world by market cap, will have to make a $5.5 million check out to the Securities and Exchange Commission after it “allegedly failed” to disclose that crypto mining had an impact on its revenue.

Read It