Did investors learn nothing from last year’s market meltdown?
Meme stock mania was supposed to be over, right? Guess what: It’s not.
Sure, the entire market did well in January. But many of the Reddit/WallStreetBets darlings of two years ago were particularly strong performers.
Shares of movie theater chain AMC (AMC) have soared nearly 65% so far in 2023, and AMC (AMC)’s companion preferred stock (which trades under the ticker APE as a nod to the nickname AMC (AMC) fans have given themselves on social media) has more than doubled.
Meanwhile Bed Bath & Beyond (BBBY) has gained about 30%, despite rumors of an imminent bankruptcy filing and more store closings. And shares of GameStop (GME), sort of the OG meme stock from 2021, are up more than 25% as well.
Speculative investors are going all-in on crypto too. With bitcoin rebounding from a 52-week low of about $15,600 to a current level of just under $24,000, Coinbase shares have skyrocketed an astonishing 140% since the end of 2022.
Then there’s Cathie Wood’s ARK Innovation (ARKK) exchange-traded fund, a poster child for speculative bets that owns Tesla (TSLA), Zoom (ZM), Roku (ROKU) and Coinbase among its top holdings. This ETF has had an incredible start to 2023, surging more than 40%. $Zoom Video Communications(ZM.US$ $3B家居(BBBY.US$ $AMC Entertainment(AMC.US$ $3B家居(BBBY.US$ $GameStop(GME.US$ $AMC Preferred Equity Unit(APE.US$ $ARK Innovation ETF(ARKK.US$ $Tesla(TSLA.US$ $Roku Inc(ROKU.US$
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MMeyes : Regardless what any says I Believe this perferd is (somehow) apart of Ape Coin