Flash in the Pan Meme Moment Takes Some Stock Traders on Wild Ride
-- The meme-stock revival was over almost as quickly as it began.A 25-Year-Old BofA Trader Dies Suddenly at Industry Outing. China Attempts to End Property Crisis With Broad Rescue Package. US Company Becomes World’s Most Valuable Solar Firm After Chinese Rivals Slip. With a BlackRock CEO, $9 Trillion Vanguard Braces for Turbulence. GameStop Corp. and AMC Entertainment Holdings Inc. — the poster children of 2021’s frenzy — saw shares surge at the start of the week only to fizzle, with the bulk of those gains erased just days later. Other speculative corners of the market, mainly beaten-down stocks that have drawn the scrutiny of short-selling hedge funds, saw their booms mostly go bust while the broader US stock market powered to record highs.An aspect of 2024’s meme stock moment is how fleeting it was and the lack of follow-through from retail traders. Yes, GameStop saw more than 10-times its recent average number of shares traded at the start of the week while AMC had more than 1.7