Investor mania fades over heavily shorted shares like AMC and GameStop. 'Valuations seemed to matter' again, one expert said.
hovering over it and other trading apps. On Twitter, folks delighted in the idea of buying into the definitive meme stock:"How do you value 500m teenage angst-ridden mostly male loners?" asks one poster. December 16, 2021
The meme-induced roller coaster ride recently had shares of Avis Budget making an abrupt and surprising jump. Newly favored by retail investors, shares of the rental-car company rose 58% in November and are now up more than 450% for the year to over $200. Boockvar concurs, saying fundamental stock analysis will reclaim center stage,"rather than who is shorted and is it trending."
"The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli," Einhorn's Greenlight Capital wrote in an April The hot rallies and rapid-fire selloffs that define meme stocks seem to be on more of a simmer as Wall Street heads into 2022.
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