Investors are once again chasing some of the most speculative names in the stock market

• Animal spirits have returned to the stock market as investors again pile into high-risk names.
• Carvana, for example, has soared nearly 700% year-to-date even as it navigates a precarious financial position.
• “Meme-type stocks have been catching a bid of late, which paints a bullish picture of general market conditions,” DataTrek Research said.

A new bull market in stocks has led to the return of animal spirits among investors, DataTrek Research said in a Friday note.

Investors are once again chasing high-risk stocks in a market that has done little but gone up since the lows notched last October. The S&P 500 has surged about 30% since then, while the Nasdaq 100 is up 50%.