![]() ![]() They’ve discovered what the rest of the investing world has worked themselves into a lather about recently: SPACs. Those truly dedicated to taking on the financial system have pivoted, however. Of course, the same stocks gained $267 billion from the beginning of 2021 to the peak, so there’s further to fall. ![]() All told, the most volatile 50 stocks have lost $167 billion in value from their peak. (It should be noted that this is still over five times where GameStop closed as recently as Inauguration Day.) Other meme stocks have been falling, as the reality of hype trading sets in. The casino’s parent company announced a $6 billion SPAC.Īfter a trading frenzy that shook a few hedge funds and launched thousands of populist cries of “Hold the Line,” GameStop has sunk back toward reality, closing on Wednesday at $92 a share after reaching as high as $347 a week ago. ![]()
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