Wall street sees an optimistic future
Wall Street Climbs as Meme Stocks Stir Interest
Rise of Meme Stocks
Wall street sees an optimistic future
The major indices across the United States market saw a rise, partly due to the corporate earnings coming out recently. Specifically, the S&P 500 nearly broke its record, rising by 0.5%, while the Dow Jones went up 0.3%. The star of the day was the Nasdaq, which jumped 0.8%, setting a new record high.
Rise of Meme Stocks
Two notable meme stocks, GameStop and AMC, have gotten back into the spotlight and shot up. Similar events happened to this a couple of years ago and its interesting to see the rise of meme stocks once again. The shift back to meme stocks shows the strength social media can have on investors and that investors may be more willing to take more risk.
Word of Caution for Meme Stock Traders
You may be intrigued by the large jumps of meme stocks, but they are not safe and sound investments. These stocks are highly volatile and can swing both ways very quicky. Buying or short selling these stocks are very risky, and we've seen the disastrous consequences for both buyers and short sellers just a couple of years ago.
As the market moves forward and speculators play the meme stock lottery, the broader financial landscape remains a complex puzzle. There is a future consumer price index report that is coming out soon that is sure to shake up our financial landscape. Overall, the market seems to be on a nice uptrend, however this can easily change in our volatile market climate.