After a lull, Wall Street has witnessed the comeback of the meme frenzy over the past few months. Last year, meme stocks took the whole world by storm after their logic-defying rallies despite fundamental weakness.
Since the outsized rallies in meme stocks were not backed by fundamentals or positive news, these stocks failed to sustain the price levels they reached last year. And many retail investors incurred heavy losses as these meme stocks eventually crashed back to earth.
