Meme stocks are back, raising a ‘red flag’ for the broader market

'Stonk' is a slang term used to refer to stock. It's an intentional misspelling that's often used in internet memes or online investing forums. (Image: Getty)

Bloomberg

Mon, 17 Jul 2023

By Bailey LipschultzInvestors are fascinated with meme stocks again as they hunt through lower-quality names searching for returns. And in the process, they’re raising a “red flag” for the S&P 500 Index.When some of the most heavily-shorted stocks in the market rally, like meme shares are doing now, and safe havens like consumer staples slump, investors should prepare for a few days of weakness in the broader market, according to Jonathan Krinsky at BTIG. The Solactive Roundhill Meme Stock Index, home to the like...

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