iStock; John Moore/Getty; Skye Gould/Insider
iStock; John Moore/Getty; Skye Gould/Insider
Retail traders have poured $1.27 billion into meme stocks in past two weeks. The inflows match the peak of the GameStop short squeeze earlier this year. New names have emerged amid the renewed interest as the originals have also sprung back to life. See more stories on Insider’s business page.
Meme stocks have roared back to life in recent weeks thanks to the army of Reddit retail traders piling in.
The stocks, including AMC Entertainment, BlackBerry, and Clover Health, among others, have seen $1.27 billion of inflows in two weeks, matching the peak during the GameStop short squeeze in January, Vanda Research said in a Wednesday note.
The more than billion dollars of inflows have topped any other sector or industry, including the S&P tech sector, senior strategist Ben Onatibia and analyst Giacomo Pierantoni said in the note.
The renewed interest in meme stocks – a term that entered the spotlight earlier this year when retail traders caused GameStop shares to skyrocket and squeezed shorts – began two weeks ago after AMC Entertainment’s once largest shareholder
