The ’Meme’ Stock Market Fad Has Finally Washed Out

The early 2021 meme stock fad had extremely fast and large runups. Additionally, the David vs. Goliath story was compelling. Therefore, even as the stocks pulled back, many supporters remained committed.

Finally, though, the meme stocks have washed out (that is, returned to their pre-runup prices – or lower). Their fate was foreseeable because, like all stock market fads, the weak fundamentals “win” in the end. For example, see my July 2021 article…