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.
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