Started in 2012 by Jaime Rogozinski, the community message board has since experienced drama related to removing moderators with possible conflicts of interest. The subreddit WallStreetBets - commonly referred to as /r/WallStreetBets or WSB - on the social-media site Reddit is the epicenter of meme stocks. A meme is an idea or cultural signifier - often a humorous image or animated gif - that becomes popular online, usually via social media platforms.Ĭommunities promoting meme stocks have their own terms and slang, including "stonks" (a funny term for stocks) and "bagholder" (someone who holds onto a meme stock after its price has crashed). Meme stock companies are promoted in online message boards and on social media sites like Reddit, YouTube, Twitter and Facebook, typically through the sharing of memes. The price of a meme stock often rises considerably higher than the value suggested by its company's financial performance. Meme stocks are the shares of companies that have gone viral online, primarily propelled by social media hype.
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If you're not an experienced investor, we recommend getting professional financial advice before investing any money in the stock market. These stocks come with a high level of risk and should be treated accordingly. Note: Meme stocks are highly volatile and have seen wild price swings up and down over the past few years.
What are meme stocks and why are they making news in the stock market? Learn why these stocks often trade for much more than their indicated worth and how online campaigns for meme stocks operate.
The whole GameStop stock phenomenon was the subject of a documentary called Rise of the Players, and it will also hit the big screen in a newly announced feature starring Seth Rogen and Pete Davidson. Popular online brokerage Robinhood froze trading for GameStop and other meme stocks, earning the ire of both investors and politicians, as well as a class-action lawsuit. Hedge funds who had heavily "shorted" GameStop - expecting its price to fall - freaked out.
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