GameStop, a video game store, saw its stock go from about $18 a share to $325 over the course of January 2021. AMC movie theaters also saw a ridiculous run-up in their stock prices. The cause was young goofy, very online investors having fun wreaking havoc on a lark.
These became known as “meme stocks.” That is, their price was set by the frivolity of internet dwellers.
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