Meme stocks took the whole world by storm after their logic-defying rally despite fundamental weakness last year. Retail investors grouped on social media forums, such as Reddit’s WallStreetBets, and partook in aggressive bets against large hedge funds, causing a massive short-squeeze in some stocks.
However, as such unprecedented rallies were not backed by fundamentals or positive news, the stocks had a terrible ending, leading to huge losses for several retail investors.
