Risk, returns & timeframes illustration
1 min read
August 16, 2022
by

Are demon meme stocks rising from the dead?

Dream, nightmare or have meme stocks been resurrected? It might take more than fuzzy bedsocks to take away the chill of share price plummets. Meanwhile for reasons no one can quite figure out, one ‘Demon’ stock has made a comeback, rising 32,000%. Spoooooky! 👻
Risk, returns & timeframes illustration
1 min read
August 16, 2022
by

Are demon meme stocks rising from the dead?

Dream, nightmare or have meme stocks been resurrected? It might take more than fuzzy bedsocks to take away the chill of share price plummets. Meanwhile for reasons no one can quite figure out, one ‘Demon’ stock has made a comeback, rising 32,000%. Spoooooky! 👻
Table of contents
Free Getting Started Course
Take your first, or next, step to becoming a confident investor with Hatch's free online course – just 10 minutes a day, for 10 days.
Weekly news from Wall St
Subscribe to The Fry Up - your weekly sizzle of headline-grabbing share market news. Read by 60,000 Kiwis to help them take charge of their investing journey.

They’re backkkk!! 😱

Just when we all thought it was safe to go to sleep, meme stonks are making a comeback like a trashy ‘80s horror movie that just won’t quit. The Bed Bath & Beyond Inc. (BBBY) share price has exploded more than 170% in the last month and not because we’re all buying fuzzy bed socks. The company’s sales, in fact, plummeted in the most recent quarter, one which saw CEO Mark Tritton walk away from his job. 🧦 Other ‘classic’ meme stocks have resurrected too, finding their way into top spots among Fidelity’s most traded list last week.

Reddit speculators may be trying to conjure up some of 2021’s meme stock magic, but in China meme stocks go by a very different name. Stocks that trend in unusual ways or contrary to the general market are known as ‘Demon Stocks’. That’s the name given to Hong Kong based AMTD Digital (HKD), which blasted into investing folklore this month with a jaw-dropping 32,000% share price rise. Another case of mistaken identity? 🎭 The company’s name is awfully close to that of chipmaker AMD (AMD) and their ticker symbol ‘HKD’ could be confused with a certain currency by the same name. Or, yunno, maybe someone just whispered ‘AMTD Digital’ five times into a mirror? 🤷

Just like the All Blacks, the Nasdaq Index has also returned from the dead. The index has risen 20% from its deathly June lows. Too soon to break out the rocket emojis?? 🚀🚀🚀 Hatch investors reckon we shouldn’t be too quick to celebrate. The recent revival could simply be a ‘bear market rally’. Sounds like a good time to dust off the official Hatch ouija board to find out. What could possibly go wrong? 👻

We’re not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. We’ve done our best to ensure all information is current when we pushed ‘publish’ on this article. And of course, with investing, your money isn’t guaranteed to grow and there’s always a risk you might lose money.

Join the Kiwis who are hatching their tomorrow and have invested more than $1 billion with Hatch.

More recent news articles

More recent learn articles

6 min read
Nov 28, 2023

Black Friday’s record-breaking US$9.8 billion US online sales, US$70.9 billion globally

New Zealand imported Black Friday from the US, but that doesn’t mean we’re spending up large during tighter economic times. While Black Friday spending soared in the US, it seems Kiwis weren’t quite so keen to part with their hard-earned cash. So who was spending up large in record US Black Friday shopping?
Read more
6 min read
Nov 21, 2023

Underrated Thanksgiving stocks and hopes for a seasonal market rally

While 2023 may have felt like a bumpy ride for investors it seems that recession predictions were stymied by a buoyant American economy. Could the road ahead bring in fresh optimism echoing rallies of holidays past?
Read more
5 min read
Nov 14, 2023

Affirm shares surged 24% ahead of holidays splurge

In a world of instant gratification, is buy now pay later (BNPL) just what we do now? While BNPL providers aren't rapidly bringing on more customers and people aren’t using BNPL more, shoppers are missing more payments sinking into a debt cycle helping providers’ revenue to climb. Is this why Affirm’s stock has soared 153% this year?
Read more

More recent news articles

More recent learn articles

6 min read
Nov 28, 2023

Black Friday’s record-breaking US$9.8 billion US online sales, US$70.9 billion globally

New Zealand imported Black Friday from the US, but that doesn’t mean we’re spending up large during tighter economic times. While Black Friday spending soared in the US, it seems Kiwis weren’t quite so keen to part with their hard-earned cash. So who was spending up large in record US Black Friday shopping?
Read more
6 min read
Nov 21, 2023

Underrated Thanksgiving stocks and hopes for a seasonal market rally

While 2023 may have felt like a bumpy ride for investors it seems that recession predictions were stymied by a buoyant American economy. Could the road ahead bring in fresh optimism echoing rallies of holidays past?
Read more
5 min read
Nov 14, 2023

Affirm shares surged 24% ahead of holidays splurge

In a world of instant gratification, is buy now pay later (BNPL) just what we do now? While BNPL providers aren't rapidly bringing on more customers and people aren’t using BNPL more, shoppers are missing more payments sinking into a debt cycle helping providers’ revenue to climb. Is this why Affirm’s stock has soared 153% this year?
Read more