Abstract
Significance His posting of images familiar as memes on social media prompted a renewed surge in the price of GameStop, the video game retailer that became the totemic meme stock during a ‘short squeeze’ by social-media-based investors in January 2021. Impacts Investing in meme stocks is pure gambling, and therein lies its appeal. To some investors, a subversive sense of humour and an anti-establishment spirit matter more than traditional investment principles. Meme-stock investing will amplify broader concerns about the addiction-inducing properties of social media. Meme stocks may pose wider risks if trading app addicts lose large sums; applying existing SEC rules in the social media context is tough.
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